President Donald Trump said the U.S. will be "flooded with jobs" as foreign trading partners move industries to American soil to avoid tariffs. 

"They can build a factory here, a plant or whatever it may be, here," Trump said Thursday afternoon from the Oval Office. "And that includes the medical, that includes cars, that includes chips and semiconductors. That includes everything. If you build here, you have no tariffs whatsoever. And I think that's what's going to happen. I think our country is going to be flooded with jobs."

Trump said U.S. consumers could see prices rise in the "short term" due to the tariffs, but that prices will lower and that industries across the board would benefit. 

"And I think the farmers are going to be helped by this very much because product is being dumped into our country and our farmers are getting hurt very badly by the last administration," Trump said. "The last administration hated our farmers, like, at a level that I've never seen before. I think our farmers are going to be helped. Jobs are going to be helped. But our farmers are going to be helped, our manufacturers are going to be helped." 

TRUMP SIGNS 'RECIPROCAL' TARIFF PLAN FOR COUNTRIES THAT TAX US GOODS

"And again, if somebody wants to come in, including the car companies, if they want to come in and build car plants, they'll do it without tariffs. And therefore, prices won't go up. There could be some short-term disturbance, but long term, it's going to it's going to make our country a fortune," he added. 

FENTANYL'S FINANCIAL GRIP ON US SKYROCKETED TO $2.7T AT HEIGHT OF BIDEN ADMIN: STUDY

Trump announced on Thursday that he will impose "fair and reciprocal" tariffs on all major U.S. trading partners. 

The plan includes tapping Howard Lutnick, Trump's nominee for commerce secretary, to produce a report on reciprocal trade relations within 180 days. Lutnik said Thursday that he will have the report ready for Trump by April 1. 

"On trade I have decided for purposes of fairness, that I will charge a reciprocal tariff – meaning whatever countries charge the United States of America, we will charge them no more, no less. In other words, they charge us a tax or tariff and we charge them the exact same tax or tariff. Very simple," Trump said at the White House of the tariff plan. 

Trump's reciprocal tariff announcement follows him leveraging tariffs against Mexico, Canada and China earlier in February. The tariffs were created in light of "extraordinary" threats stemming from "illegal aliens and drugs, including deadly fentanyl," according to Trump's executive order authorizing the tariffs. 

Trump's order authorized tariffs through the new International Emergency Economic Powers Act. It included 25% tariffs on imports from Canada and Mexico and a 10% tariff on imports from China. Energy resources from Canada would have a lower 10% tariff.

TRUMP IMPOSES TARIFFS ON IMPORTS FROM CANADA, MEXICO AND CHINA: 'NATIONAL EMERGENCY'

Both Canada and Mexico agreed to concessions with Trump the day before the tariffs were set to take effect, pledging to send additional security personnel to their respective borders with the U.S. Trump agreed to pause the tariffs on the two nations for one month in light of the border security concessions. 

China, on the other hand, imposed tariffs on some U.S. imports in response to Trump's tariffs. 

Fox News Digital's Greg Norman contributed to this report. 

Secretary of Defense Pete Hegseth said that as the U.S. aims to "revive the warrior ethos," European members of NATO also should follow suit and bolster defense efforts. 

"NATO should pursue these goals as well," Hegseth told NATO members in Brussels on Thursday. "NATO is a great alliance, the most successful defense alliance in history, but to endure for the future, our partners must do far more for Europe’s defense."  

"We must make NATO great again," he said.  

As of 2023, the U.S. spent 3.3% of its GDP on defense spending — totaling $880 billion, according to the nonpartisan Washington, D.C.-based Peterson Institute for International Economics. More than 50% of NATO funding comes from the U.S., while other allies, like the United Kingdom, France and Germany, have contributed between 4% and 8% to NATO funding in recent years. 

Hegseth urged European allies to bolster defense spending from 2% to 5% of gross domestic product, as President Donald Trump has long advocated. 

NATO comprises more than 30 countries and was originally formed in 1949 to halt the spread of the Soviet Union. 

Hegseth pointed to former President Dwight D. Eisenhower, who advocated for a strong relationship with European allies. But he noted that eventually Eisenhower felt that the U.S. was bearing the burden of deploying U.S. troops to Europe in 1959, according to the State Department’s Office of the Historian. Eisenhower reportedly told two of his generals that the Europeans were "making a sucker out of Uncle Sam." 

Hegseth said that he and Trump share sentiments similar to Eisenhower's. 

PUTIN VIEWED AS ‘GREAT COMPETITOR’ BUT STILL A US ‘ADVERSARY’ AS UKRAINE NEGOTIATIONS LOOM, LEAVITT SAYS 

"This administration believes in alliances, deeply believes in alliances, but make no mistake, President Trump will not allow anyone to turn Uncle Sam into Uncle Sucker," Hegseth said.

"We can talk all we want about values," Hegseth said. "Values are important, but you can’t shoot values, you can’t shoot flags, and you can’t shoot strong speeches. There is no replacement for hard power. As much as we may not want to like the world we live in, in some cases, there’s nothing like hard power."

Hegseth’s comments come as the Trump administration navigates negotiations with Russia and Ukraine to end the conflict between the two countries. On Wednesday, Trump called both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, and Treasury Secretary Scott Bessent traveled to Kyiv.

OBAMA OFFICIALS, TRUMP CRITICS TARGET HEGSETH'S ‘CONCESSIONS’ AS ‘BIGGEST GIFT’ TO RUSSIA 

Vice President JD Vance and Secretary of State Marco Rubio are slated to meet with Zelenskyy Friday at the Munich Security Conference.

Meanwhile, the Trump administration has come under scrutiny for the negotiations, fielding criticism that Ukraine is being pressured to give in to concessions after Hegseth said on Wednesday that it isn’t realistic for Ukraine to regain its pre-war borders with Russia. 

"Putin is gonna pocket this and ask for more," Brett Bruen, director of global engagement under former President Barack Obama, told Fox News Digital. 

Michael McFaul, ambassador to Russia under the Obama administration, also shared concerns in a social media post on X on Wednesday, claiming that Trump was delivering Russia a "gift." 

But Hegseth said he rejected similar accusations. 

"Any suggestion that President Trump is doing anything other than negotiating from a position of strength is, on its face, ahistorical and false," Hegseth said Thursday. 

Russia invaded Ukraine in February 2022, and Trump vowed on the campaign trail in 2024 that he would work to end the conflict if elected again. 

Fox News’ Emma Colton and Morgan Phillips contributed to this report. 

President Donald Trump met with Marc Fogel’s mother on July 13, 2024, in Butler, Pennsylvania, and vowed to bring her son home if elected, just before an assassination attempt nearly took his life. 

Rep. Mike Kelly, R-Pa., was there for the meeting between Trump and Malphine Fogel before the president took the stage. 

"The president survived the assassination attempt on July 13 in Butler, and he fulfilled his commitment to Mrs. Fogel that he would get her son home," Kelly told Fox News Digital. "It is an incredible, providential story." 

MOTHER OF FREED AMERICAN HOSTAGE MARC FOGEL THANKS PRESIDENT DONALD TRUMP: 'HE KEPT HIS PROMISE'

During the rally, after his meeting with Fogel's mother, Trump was showing off a chart highlighting how illegal immigration skyrocketed under the Biden-Harris administration. As he turned toward the chart, he was hit by a bullet that pierced the upper part of his right ear by the now-deceased would-be-assassin, Thomas Matthew Crooks. Trump credits the chart for saving his life. 

Kelly likened the situation to the classic movie "It’s a Wonderful Life." 

"The theme of the movie was that George Bailey was very frustrated, but he was given a glimpse of life and what would have happened if he hadn’t been there – if he hadn’t been born," Kelly recalled. "And if I go back to July 13, this is all providential." 

"Mrs. Fogel has a chance to talk to the president, and she talks about what is happening to Marc. The president vows to get him home," Kelly continued. "It is a take-off of ‘It’s a Wonderful Life’ and the opportunity, or the dilemma, that if you were never born, what would the consequences have been?" 

"If President Trump did not survive the assassination attempt on July 13, Marc Fogel wouldn’t be home today," Kelly said.  

Fogel, an American teacher from Western Pennsylvania, returned to the United States late Tuesday, after Trump secured his release. Fogel was arrested in 2021 at an airport in Russia for possession of medical marijuana and was sentenced to 14 years in a Russian prison. 

AMERICAN MARC FOGEL RELEASED FROM RUSSIAN CUSTODY

Kelly told Fox News Digital that "it is all about faith." 

"Having been there and witnessed it, I think to myself, ‘Oh my goodness, that tiny fraction of an inch, or whatever it was, is the difference between Marc Fogel being home and Marc Fogel not being home,’" he said. "Between making a promise to his mother and being able to keep it, as opposed to making a promise and never getting a chance to fulfill it." 

Malphine Fogel recalled the Butler meeting with Trump on Fox News Channel's "America Newsroom." 

"I met with President Trump, and he was just as cordial as he could be," she said. "He told me three different times, 'If I get in,' he said, 'I'll get him out' and I really think he's been instrumental." 

Malphine Fogel told Fox News that "it was a total surprise" when she heard from her son from the Moscow airport. 

"So, that meant that (they) had taken him out of the prison to Moscow.... The last week or so, for some crazy reason, I had a better feeling about things, but I hadn't heard from him in a week, so I thought that was odd and when he called…  it was just a total shock," she said. 

Meanwhile, Kelly told Fox News Digital, "There is a certain time in people’s lives where you realize you don’t have forever, you have right now, and you need to get it done." 

"Politically, there is no one on either side of the aisle that could look at what happened with Marc Fogel and not somehow say, this is truly providential – this is not a political move," Kelly said. "This doesn’t do anything for the president. He's already elected. He did this to keep a promise to a mother in her mid 90s – the only thing she wanted to see before she died was her son one more time." 

Kelly added: "This is a promise made. Promise kept. It is truly providential. It is. It is a wonderful life." 

FIRST ON FOX: Europe must reinstate harsh United Nations sanctions on Iran, U.S. lawmakers insisted in a new resolution that accused Tehran of repeated violations of the 2015 nuclear deal brokered by the Obama administration.  

The bipartisan legislation calls on the U.K., France and Germany to invoke "snapback" sanctions on Iran through the UN Security Council immediately – and follow the U.S.’s lead under President Donald Trump’s "maximum pressure" executive order to isolate Iran over its nuclear activity. 

"Iran is the leading state sponsor of terrorism, and their actions have led to the murder of American servicemembers," said Sen. Pete Ricketts, R-Neb., the number two Republican on Senate Foreign Relations Committee and lead sponsor of the bill, which has 11 cosponsors in the Senate. 

"Iran’s possession of a nuclear weapon would threaten our security and the security of our allies. Snapback sanctions are key to ensuring that President Trump’s maximum pressure campaign is successful." 

IRAN'S COVERT NUCLEAR AGENCY FOUND OPERATING OUT OF TOP SPACE PROGRAM LAUNCH SITES

Reps. Claudia Tenney, R-N.Y., and Josh Gottheimer, D-N.J., issued companion legislation in the House. 

Under the 2015 Iran deal known as the Joint Comprehensive Plan of Action (JCPOA), Iran evaded U.N., U.S. and E.U. sanctions in exchange for promises not to pursue a nuclear weapon. But Iran eventually cut off independent inspectors' access to its sites and resumed nuclear activities. 

A "snapback" provision of the agreement said that any of the nations privy to the deal – China, France, Russia, the United Kingdom, U.S. or Germany – could demand the export controls, travel bans and asset freezes be reimposed. 

But the U.S. pulled out of the nuclear deal entirely under President Donald Trump’s first administration and imposed its own "maximum pressure" sanctions regime. The Biden administration subsequently issued sanctions waivers and toyed with the idea of returning to a nuclear deal with Iran, but ultimately those efforts faltered.

Tenney urged the European nations to invoke the snapback sanctions before the deal expires in October 2025. 

"Invoking snapback sanctions will restore all the UN sanctions on Iran that were lifted by the Obama administration’s failed Iran nuclear deal," she said. 

Iran is "dramatically" accelerating enrichment of uranium to up to 60% purity, below the 90% needed for a nuclear weapon, according to U.N. nuclear watchdog Rafael Grossi. Western states have said there is no civilian use for 60% uranium. 

TRUMP REINSTATES ‘MAXIMUM PRESSURE’ CAMPAIGN AGAINST IRAN

Britain, France and Germany told the U.N. Security Council in December they were ready to trigger the snapback of all international sanctions on Iran if necessary. 

Trump himself said he was "torn" over a recent executive order that triggered harsh sanctions on Iran’s oil sector, adding that he was "unhappy to do it."

"Hopefully, we're not going to have to use it very much," Trump told reporters.

But he reiterated, "We're not going to let them get a nuclear weapon."

Trump suggested first trying a "verified nuclear peace agreement" over military escalation. "I would much rather do a deal that’s not gonna hurt them," the president told Fox News on Monday, adding that "I’d love to make a deal with them without bombing them."

Iran viewed the president’s remarks as a threat and took negotiations off the table. 

​​"No problem will be solved by negotiating with America," said Iran’s Ayatollah Ali Khameni, citing past "experience." 

He called for the country to further develop its military capabilities. 

"We cannot be satisfied," Khamenei said. "Say that we previously set a limit for the accuracy of our missiles, but we now feel this limit is no longer enough. We have to go forward."

"Today, our defensive power is well known, our enemies are afraid of this. This is very important for our country," he said.

President Donald Trump’s nominee to lead the Small Business Administration, former Sen. Kelly Loeffler, passed a key procedural vote in the Senate on Thursday, clearing the path for her final confirmation vote. 

The Senate’s vote this afternoon to invoke cloture ended the debate on the Georgia Republican’s nomination, as she now moves on to the confirmation stage.

The final cloture vote was 51-43 in favor of invoking cloture.

"Like President Trump, Senator Loeffler left behind a successful career in the private sector to advance the America First agenda," Loeffler spokeswoman Caitlin O'Dea told Fox News on Jan. 28. 

TRUMP'S COMMERCE NOMINEE PASSES KEY HURDLE

"Should she be confirmed, she will continue the practice of donating her federal salary to charities and nonprofits across the country — and put her full focus on working to make the Small Business Administration a gateway to the American Dream for entrepreneurs across the country." 

Loeffler, whose net worth is estimated at roughly $1 billion, previously donated her annual Senate salary of $174,000 between 2019 and 2021 to more than 40 Georgia charities and nonprofits. 

Those organizations included food banks, faith groups and organizations opposed to abortion, foster care/adoption groups as well as organizations promoting health care, agriculture, education, law enforcement and disaster relief. 

Loeffler previously worked at several top financial firms, including Intercontinental Exchange. Her husband, Jeffrey Sprecher, whom she met at ICE, is the current chairman of the New York Stock Exchange.

Loeffler also previously bought a minority stake in the WNBA Atlanta Dream, but is reportedly no longer associated with the team.

Loeffler also sparred with Sen. Edward Markey, D-Mass, during her confirmation hearing over the Trump administration’s announcement that it would freeze federal funds and grants. 

TRUMP LANDS KEY TULSI GABBARD CONFIRMATION FOLLOWING UPHILL SENATE BATTLE

After Trump fired SBA inspector general Hannibal Ware in January, Markey -- the top Democrat on the Senate Small Business & Entrepreneurship Committee – expressed anger and called for a pause on Loeffler’s confirmation consideration.

Markey said the process should be halted "either until Inspector General Ware is reinstated or until a qualified and impartial nominee to replace him is confirmed by the Senate."

Sen. Joni Ernst, R-Iowa, the committee’s chairwoman, called Loeffler the "perfect person for the job" in an Osceola Sentinel-Tribune column.

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"Throughout her career, she rose through the ranks at multiple companies due to her determination and grit. She also started many businesses and knows what it takes to be a successful entrepreneur," said Ernst.

"Most importantly, she knows what it means to be overrun by Washington’s bureaucratic overreach — and that the government must instead get out of the way so businesses can thrive."

Fox News Digital's Diana Stancy and Deidre Heavey contributed to this report

Sen. Tina Smith of Minnesota announced Thursday she won't seek re-election in 2026, forcing the Democratic Party to defend another open seat in next year's midterms and making more difficult their goal of regaining the Senate majority.

"I’ve decided not to run for re-election to the Senate in 2026," Smith said in a social media post. "This job has been the honor of a lifetime. For the rest of my term, I’ll work as hard as I can for Minnesotans and our country. Thank you so much, Minnesota."

Smith was appointed to the Senate in 2018 to succeed former Sen. Al Franken after his resignation over sexual misconduct allegations. She won a special election later that year to serve out Franken's term and was re-elected in 2020 to a full six-year term.

TOP POLITICAL HANDICAPPER REVEALS DEMOCRATS CHANCES OF WINNING BACK THE SENATE MAJORITY

Senate Republicans vowed to try and flip Smith's seat in blue-leaning Minnesota.

"Minnesota is in play, and we play to win. Minnesotans deserve a senator who will fight for lower taxes, economic opportunity and safer communities," National Republican Senatorial Committee (NRSC) Chair Sen. Tim Scott said in a statement to Fox News. 

But the Senate Democrats' campaign arm quickly pledged to keep the seat in party hands.

FIRST ON FOX: SENATE GOP CAMPAIGN COMMITTEE SPOTLIGHTS ‘TEAM EFFORT’

"No Republican has won a Minnesota Senate race in over 20 years, and Democrats will continue to hold this seat in 2026," Democratic Senatorial Campaign Committee (DSCC) spokesperson David Bergstein emphasized in a statement to Fox News.

Senate Minority Leader Chuck Schumer of New York, the top Democrat in the chamber, praised Smith as "a remarkable senator — smart, compassionate, and tireless in her commitment to Minnesota and the country."

"While I will deeply miss her leadership and friendship in the Senate, I have no doubt that her legacy of service will continue to inspire. We have a strong bench in Minnesota, and I’m confident that we’ll keep her seat blue," Schumer predicted.

Smith became the second Democrat in the Senate to announce she would forgo running for re-election in the midterms, following Sen. Gary Peters of Michigan, a key Midwestern battleground state.

SENATE REPUBLICANS JUMP OUT TO FAST START IN THIS KEY CAMPAIGN METRIC

Senate Republicans enjoyed a favorable map in the 2024 cycle as they flipped four seats from blue to red and won a 53-47 majority in the chamber.

The party in power - which is clearly the Republicans right now - traditionally faces political headwinds in the midterm elections. And while an early read of the 2026 map shows the GOP will be forced to play defense in some states, they'll also go on offense in others.

Besides the open seat in Michigan, the GOP will target first-term Sen. Jon Ossoff in battleground Georgia and longtime Sen. Jeanne Shaheen in swing state New Hampshire.

Now the Democrats will have to pay attention to Minnesota, which the Cook Report, a top nonpartisan political handicapper, this week rated as "Likely Democrat," as it unveiled its first read on the battle for the Senate majority in the 2026 cycle.

However, Democrats aim to go on offense in blue-leaning Maine, where GOP Sen. Susan Collins is up for re-election, as well as in battleground North Carolina, where Republican Sen. Thom Tillis is also up in 2026.

TRUMP-BACKED 2024 GOP SENATE NOMINEE IN KEY BATTLEGROUND STATE MOVING TOWARD ANOTHER RUN IN 2026

Minnesota Gov. Tim Walz, who served as Vice President Kamala Harris' running mate on the Democrats' 2024 national ticket, took to social media soon after Smith's news.

"Tina has always done the work to improve people’s lives: lowering the price of insulin, improving access to mental health services, passing historic climate legislation, and our party’s champion for reproductive freedom. Minnesotans will miss having her in the Senate," Walz wrote.

There is speculation Walz, who is eligible to run for re-election in 2026 for a third four-year term as Minnesota governor, may now have an interest in his state's open Senate seat.

Smith, in a video announcement she posted on social media, noted that Democrats "have a deep bench of political talent in Minnesota. A group of leaders that are more than ready to pick up the work and carry it forward. And I'm excited to make room for them to move forward."

Lt. Gov Peggy Flanagan moved toward launching a campaign, saying in a social media post, "I love Minnesota, and my intention is to run for United States Senate and continue to serve the people of this state. I’ll make a formal announcement later this month."

There's also speculation that Democratic Rep. Ilhan Omar of Minnesota, a member of the so-called Squad, may make a move to run for the Senate.

Fox News' Julia Johnson and Chad Pergram contributed to this report