Fox News’ Peter Doocy declared on Tuesday that Americans’ retirement accounts are being “throttled” as President Donald Trump’s trade war rages on, pointing out that this reality could also imperil Elon Musk’s effort to compel “hundreds of thousands” of federal workers to retire.

Previewing a White House press briefing, Doocy mused that “What we’re seeing before President Trump sends his spokesperson out is a different approach than he had last week. Last week, when he was taking some heat, including from some conservative economists, about this tariff strategy. He decided to tinker with it a little bit. There were exceptions made for some products from Mexico, some products from Canada for a few weeks. This week amid the criticism, the president is doubling down. And what remains to be seen is how exactly he can help this 1.5 million person block in New York, and Minnesota, and Michigan that is going to be affected by higher prices for Canadian energy.”

“But he and the Canadians are going back and forth, back and forth. So we do expect to hear a little bit more about the president’s thinking on that. And then we didn’t see him at all yesterday, but he is going to speak to some nervous CEOs later on today. President Trump, of course, has great job security, he never needs to run for reelection again. But these CEOs who are coming to town, including from IBM, and HP, and Qualcomm, they all need to go back to their boards and to their shareholders to explain what exactly is going to happen,” he continued, adding:

And we also expect the White House to try to reassure folks who are sitting there looking at their 401(k)s going down and down and down. This is a White House that came in trying to get federal workers to retire by the hundreds of thousands, but it’s tough to make the argument that you should retire if your retirement accounts are getting throttled, which is what is happening right now. So we expect-, we hope for answers to all of these curiosities any minute.

Last week, Doocy asked Trump if he thought markets had been “spooked” by the implementation of his trade policy, and Trump responded by blasting “globalist countries and companies” and predicting there would only be “a little short term interruption.”

Watch above via Fox News.

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