Republicans Lobby Trump To Reverse Course On Tariffs
Republicans Lobby Trump To Reverse Course On Tariffs
They fear a trade war would wipe away any gains from their tax reform win
They fear a trade war would wipe away any gains from their tax reform win
President Trump last week announced sweeping tariffs for steel and aluminum. Now congressional Republicans are pushing back against a move that seems at odds with one of the main pillars of the GOP platform. House Speaker Paul Ryan (R-Wis), is one such opponent, and in a statement released by his office said:
"We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan. The new tax reform law has boosted the economy and we certainly don't want to jeopardize those gains."
At the time on this reporting, President Trump has not seemed to back down from his position, rather, he seems to have doubled down on imposing tariffs. Speaking from the White House, the president stated that, "I don't think you're going to have a trade war." He continued addressing that matter by noting that "People have to understand, our country on trade, has been ripped off by virtually every country in the world whether it's friend or enemy. Everybody."
Party leaders have not announced any actions on the matter, but they have not ruled out some form of legislative action that would counter the plans of the president. Several Republican lawmakers, including those on the Ways and Means Committee, which include its chairman, have drafted letters outlining their concerns about imposing tariffs.
Prominent senior Republican, and the Senate Finance Chairman Orrin Hatch (R-Utah), is also in the process of drafting his own letter to the president this week. Hatch is an opponent of imposing tariffs as he believes that they would negate any gains made from the tax cuts Republicans fought so hard for.
Hatch noted that "Should the administration opt to move forward with tariffs on steel and aluminum, American manufacturers, businesses, and consumers would be forced to bear the brunt paying more for steel and steel products. Such action could very well undercut the benefits of the pro-growth tax reform we fought to get on the books."