Pro-MAGA host left stunned after Trump’s tariff action crashed 401k

Newsmax host Jon Glasgow expressed his shock at the effects that President Donald Trump’s tariffs were having on his retirement investment savings, in a discussion on tariffs on Sunday.

‘I looked at my 401(k) and gasped,’ Glasgow said during an interview with former Sen. Rick Santorum on his show.

He was highlighting a clip of Treasury Secretary Scott Bessent urging Americans not to look at the ‘day to day fluctuations’ of the stock market.

‘Do you think that a lot of Americans are gonna give the Trump administration this grace period here while they trust in his plan?’ he asked.

Santorum replied that what was happening in the markets was a ‘huge problem’ for the president, but that younger people’s 401(k)s would be in a different than those who were preparing to retire.

‘Well, all due respect, John, you looked at your 401(k), and you’re in your thirties or maybe forties, and 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 10 years away from retirement have seen a dramatic hit,’ he admitted.

Santorum said that Bessent was right in saying that people who were actually retiring probably had a majority of their savings not in the stock market.

He said that Trump’s tariffs was part of his overall push for negotiations ‘free trade’ agreements with foreign countries.

‘What Trump is saying is look, we can negotiate free trade and get screwed again, or we can come out guns-a-blazin’ and get these folks to come to reality and actually get to free trade,’ Santorum said.

‘It’s the most bold move a president has ever made in the history of the United States,’ Glasgow said.

On Monday, Trump urged his supporters and figures in the Republican party to remain strong despite a third day of stock market losses, promising that the United States would soon make deals that would make the American economy better.

‘Countries from all over the World are talking to us. Tough but fair parameters are being set,’ Trump said.

‘Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs,’ Trump noted on Truth Social. ‘Likewise Agriculture, and many other “things.” It all has to change, but especially with CHINA!!!’

White House National Economic Council Director Kevin Hasset confirmed that more than 50 countries had already reached out to the president to negotiate. .

‘They’re doing that because they understand that they bear a lot of the tariff,’ Hassett said.

Trump urged his supporters not to become ‘PANICANS,’ Republicans who were turning on him because of the tariffs and their effects on the stock market.

‘The United States has a chance to do something that should have been done decades ago. Don’t be Weak! Don’t be Stupid! Don’t be a Panican (A new party based on Weak and Stupid people!),’ Trump posted on Truth Social.