Newsmax host Jon Glasgow said he was shocked after the stock market's reaction to President Donald Trump's tariffs took a toll on his personal wealth.
"I looked at my 401k and gasped," Glasgow told former Sen. Rick Santorum (R-PA) on Sunday. "I mean, do you think that a lot of Americans are gonna give the Trump administration this grace period here while they trust in his plan?"
"Well, all due respect, John, you looked at your 401(k), and you're in your 30s or maybe 40s, and your — your portfolio looks a lot different than someone who's gonna retire this year," Santorum replied. "Certainly younger folks and even folks maybe five or ten years away from retirement have seen a dramatic hit."
"And it's going to be — it's a problem," he continued. "Look, there's — there's no question Donald Trump is facing a huge problem with what's happened to the market."
"And he's got to do some things here in the very short term to reassure the markets that this trade — this tariff policy is a policy that I would even argue that — that he's a free trader."
Santorum predicted the markets would "react positively" if Trump painted himself as a free trade president.
Glasgow ended the segment by calling Trump's tariff policy "the most bold move a president has ever made in the history of the United States."
