Together, the economic landscape of the United States today is a place of unprecedented upheaval. The impact of former President Donald Trump’s tariffs is starting to tell a familiar tale. Thanks to the US economy shrinking for the first time since 2022, lawmakers, particularly those from critical political and export states, are now grappling with the fallout from Trump’s massive 10% tariffs on all imports and much higher levies along numerous trading partners.
Only recently, the White House has threatened to veto that very bipartisan resolution. This resolution is aimed at repealing the national emergency originally declared by Trump to implement these tariffs. This move has raised concerns among economists who attribute the economy’s contraction in the first quarter of 2023, in part, to the surge of imports triggered by these tariffs.
Warnings from the Follow through on tariff policies, a recipe for recession, job losses and economic distress. The panic surrounding the tariffs has prompted 100 countries to renegotiate their trade agreements with the United States, as they seek to adapt to the changing economic dynamics.
Senator Ron Wyden stated, “A major culprit is unquestionably Donald Trump and his senseless global tariffs,” highlighting the growing frustration among lawmakers regarding the detrimental effects of these policies.
Through all these challenges, House Speaker Mike Johnson is still holding out hope that Speaker Trump will do it this way. His main argument is to defend the tariffs as a tremendous gamble that will eventually pay off despite their terrible start. Johnson said, “I’m telling you, right now, even today, people are starting to see the dust clear on that. They know there’s a big game plan behind this, and they’re starting to see the fruits of that labor.”
The current political climate in Congress would suggest robust push-back to Trump’s tariff policies. Congress is set to deliberate a bipartisan consensus bill. This new legislation would determine a 60-day deadline for approval of new tariffs Trump imposes, overturning his reckless decisions of the past. Just last week, a bipartisan attempt to block Trump’s tariffs on Canada collectively died in the House, even after passing through the chamber with enough support.
Vice-President JD Vance was not messing around. He made a big move to stop a bad procedural motion from passing. This step effectively killed the bipartisan resolution against Trump’s harmful tariffs from going any further. Senator Rand Paul was rightly critical of these recent developments. He contended that it is wrong to apply laws created for punishing enemies to the creation of taxes on Americans. This is not constitutionalism.
Chuck Schumer, a power player as Senate Majority Leader in Congress, has indicated that future efforts to force votes on tariffs may be possible. This move represents a swift reaction to recent events. Warren has grilled the administration on the possible long-term effects of Trump’s trade war on the American economy and workforce.
Congressional lawmakers are already fighting Trump’s tariffs tooth and nail. It’s clear their decisions will have huge implications beyond just short-term economics. Leading economists have recently echoed this, cautioning that dire consequences for jobs and the overall economy might soon be hovering. More importantly, they don’t make these predictions, per se.
Hopes are riding on new House Speaker Johnson and his party’s spirited declaration to use legislative order to confront these issues. It’s why we’re using the rules of the House to stop political hijinks and political stunts. That’s what the Democrats have… He continued. This sentiment is indicative of a larger effort among Republicans, at least in the House, to dig in their heels on Trump’s trade war as public opposition rises.