Republicans must reject Trump stupid tariffs and help restore confidence in the U.S. economy
Former Vice President Mike Pence, who served as vice president during Trump's first term, wrote on X, formerly Twitter, "The Trump Tariff Tax is the largest peacetime tax hike in U.S. history."
In facr, the tariffs were almost 10 times the size of those imposed during the Trump-Pence administration and would "cost American families over $3,500 per year."
In facr, the tariffs were almost 10 times the size of those imposed during the Trump-Pence administration and would "cost American families over $3,500 per year."
'Bad Idea' 😕😢: Republicans Raise Alarm Over Donald Trump's Tariffs⚠️❗
#StupidTariffs harm middle class people and those who survive on fixed incomes because the increased taxes caused by tariffs outpace the financial ability for average Americans to keep sustainable revenue.
Americans will hold back spending because of economc uncertainty.
Echo news report published in Newsweek by Kahleda Rahman.
Several Republicans have raised alarm about Donald Trump's tariffs, warning they will raise prices and derail the economy.
On Wednesday—which he called "Liberation Day"—Trump announced that he would impose higher tariff rates on dozens of nations that run trade surpluses with the United States.
Speaking in the White House Rose Garden, Trump said he would impose a 10 percent baseline tariff on imports from almost all countries and "reciprocal" tariffs on others, unveiling a chart showing higher duties on some of the U.S.'s most significant trading partners.
Trump said the tariffs would boost domestic manufacturing, bring in revenue and restore fairness to global trade.
Nevertheless, many economists warned that the plan can push the economy into a recession and that American consumers would end up shouldering the burden of the tariffs, as importers passed on costs in the form of 💰 higher prices.
Later on Wednesday, the Senate passed a resolution by a 51-48 vote that would end Trump's emergency declaration on fentanyl trafficking underpinning his tariffs on Canada. Four Republican senators—Susan Collins, Mitch McConnell, Lisa Murkowski and Rand Paul—voted with Democrats, highlighting cracks in GOP support for Trump's economic plans.
Still, unfortunately,😖😰 the legislation has little chance of passing the Republican-controlled House and being signed by Trump.
Several Republicans have raised alarm about Donald Trump's tariffs, warning they will raise prices and derail the economy.
On Wednesday—which he called "Liberation Day"—Trump announced that he would impose higher tariff rates on dozens of nations that run trade surpluses with the United States.
Speaking in the White House Rose Garden, Trump said he would impose a 10 percent baseline tariff on imports from almost all countries and "reciprocal" tariffs on others, unveiling a chart showing higher duties on some of the U.S.'s most significant trading partners.
Trump said the tariffs would boost domestic manufacturing, bring in revenue and restore fairness to global trade.
Nevertheless, many economists warned that the plan can push the economy into a recession and that American consumers would end up shouldering the burden of the tariffs, as importers passed on costs in the form of 💰 higher prices.
Later on Wednesday, the Senate passed a resolution by a 51-48 vote that would end Trump's emergency declaration on fentanyl trafficking underpinning his tariffs on Canada. Four Republican senators—Susan Collins, Mitch McConnell, Lisa Murkowski and Rand Paul—voted with Democrats, highlighting cracks in GOP support for Trump's economic plans.
Still, unfortunately,😖😰 the legislation has little chance of passing the Republican-controlled House and being signed by Trump.
#ResistanceNeeded
Labels: Kahleda Rahman, Lisa Murkowski, Mike Pence, Mitch McConnell, Newsweek, Ran Paul, Susan Collins
posted by Juliana L'Heureux | 7:55 AM
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