August 25, 2026

Tariffs

Republicans are Worried About How Tariffs Will Affect Future Elections– townhall.com

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Some Republican lawmakers are deeply concerned about President Donald Trump’s tariff gambit for more reasons than one. Many have argued that using tariffs will only raise prices for American consumers.

However, others are worried about something else: Maintaining political power.

The Hill reported that GOP lawmakers have expressed concerns that the trade wars’ impact might negatively impact their chances of retaining control over both chambers of Congress in the 2026 midterm elections.

Republican lawmakers say there’s a good chance that President Trump’s trade war will boomerang on Republicans politically in 2026, as rising prices and shrinking growth could offset other accomplishments by the GOP.

Republican senators are pointing to the 1932 and 1982 elections as historical examples of when trade wars and resulting price inflation hurt their party at the ballot box, and they are worried that history could repeat itself.

Many Republican lawmakers view tariffs as a tax hike on American consumers, and some note that the last two times Congress enacted tax hikes on the scale of Trump’s recent tariffs, the president’s party suffered a wipeout in the next election.

Trump’s Tariffs Deliver Biggest Shock to Global Markets Since Pandemic– time.com

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HONG KONG — Shares slid further in Europe and Asia on Friday as markets shuddered while investors counted the potential costs of U.S. President Donald Trump’s latest set of tariffs.

The future for the S&P 500 lost 0.8% while that for the Dow Jones Industrial Average shed 1%.

Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies has fallen. Even gold, a traditional safe haven that recently hit record highs, pulled lower after Trump announced his “Liberation Day” set of tariffs, which economists say carries the risk of a potentially toxic mix of weakening economic growth and higher inflation.

Trump’s tariffs will deliver a big blow to climate tech– www.technologyreview.com

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The growing policy uncertainty and weakening economic conditions alone may already be causing some of this to occur.

Since Trump took office, companies have canceled, delayed, or scaled back at least nine US “clean energy supply chain” developments or operations, according to the Big Green Machine, a database maintained by Jay Turner, a professor of environmental studies at Wellesley College, and student researchers there. The projects that have been affected represent some $8 billion in public and private investments, and more than 9,000 jobs.

They include KORE Power’s planned battery facility in Arizona, which the company halted; Envision Automotive Energy Supply’s paused expansion in Florence County, South Carolina; and Akasol’s closure of two plants in Michigan.

VW also scaled back production at its recently expanded EV factory in Chattanooga, Tennessee, amid slower-than-expected growth in sales and, perhaps, the expectation that the Trump administration will strive to roll back consumer tax credits for vehicle purchases.

Trump live: ‘Liberation Day’ tariffs wipe $3.1 trillion from Wall Street as analysts warn of global recession– www.independent.co.uk

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Trump’s sweeping tariffs sent shockwaves through Wall Street, wiping about $3.1 trillion in market value in its largest one-day decline since the Covid pandemic.

The Dow Jones Industrial Average dropped 4 percent. The S&P 500 fell 4.8 percent.

And the tech-focused Nasdaq was down 6 percent — fuelled by declines from Apple, Nvidia and Amazon.

Trump tariffs live: US markets see worst day in five years as president claims ‘stock is going to boom’ | Trump tariffs– www.theguardian.com

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The New York stock exchange has closed on its worst day of trading since June 2020 – during the early months of the Covid-19 pandemic.

The main indices saw their worst one-day falls in five years as Donald Trump claimed that “the markets are going to boom” in response to his sweeping tariffs.

The S&P 500 index is down 4.9% at the close, which Reuters flags is the biggest one-day drop since June 2020.

The Dow has also posted its biggest one-day drop since June 2020, down 4%.

Meanwhile, the Nasdaq tumbled 5.9%, its worst single-day performance since March 2020.

The scale of the sell-off, wiping trillions of dollars off the value of US companies, highlights just how alarmed investors are by the tariffs, and the fears they could lead to a recession.

US Senate Republican pushes to require congressional approval for new tariffs – Reuters– news.google.com

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  1. US Senate Republican pushes to require congressional approval for new tariffs  Reuters
  2. Republicans weigh using the power of Congress to rein in Trump on tariffs  NBC News
  3. Senators unveil bill to claw back power over tariffs amid Trump trade wars  The Guardian
  4. Top Republican leads bill to reassert Congress’ tariff power amid Trump trade war  Politico
  5. Senators introduce bipartisan bill to rein in presidential tariff authority  The Washington Post

Trump Tariffs Could Cause Global Trade Drop By 1% In 2025 Warns WTO– www.ndtv.com

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US President Donald Trump’s worldwide tariff salvo could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year, the WTO chief warned Thursday.

After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures would “have substantial implications for global trade and economic growth prospects”.

Trump slapped 10 percent import duties on all nations and far higher levies on imports from dozens of specific countries — including top trade partners China and the European Union — adding to tariffs already imposed since his return to power in January.

“While the situation is rapidly evolving, our initial estimates suggest that these measures, coupled with those introduced since the beginning of the year, could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year,” the World Trade Organization director-general said in a statement.

Senate RINOs Turn on Trump to Undo Key Policy, But Then a Republican Colleague Points Out the Obvious– www.westernjournal.com

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On Wednesday, four Republican senators joined their Democratic colleagues to pass a resolution, introduced by Democratic Sen. Tim Kaine of Virginia, designed to undermine President Donald Trump’s policy of imposing tariffs on Canada.

The operative word here — “designed” — makes all the difference, for the resolution has no chance of actually restraining the president.

In fact, Republican Senate Majority Whip John Barrasso chastised his four colleagues for the emptiness of their gesture.

“Sen. Kaine’s goal was not to make law. It was simply an effort to undermine President Trump’s successful work to secure the Northern Border,” Barrasso said in a statement, per Fox News.

Indeed, Trump has justified tariffs on Canada in part by citing that nation’s lax border enforcement. As a result, the deadly drug fentanyl has poured into the United States.

Moreover, Barrasso expressed confidence that Republican House Speaker Mike Johnson would squash the Senate resolution.

“Speaker Johnson already declared Sen. Kaine’s resolution dead on arrival in the House of Representatives. It will never make it to President Trump’s desk,” Barrasso continued. “This meaningless messaging resolution will not stop Senate Republicans from making America’s communities safer.

Trump’s tariffs: Which countries will hit back – and which likely won’t? | Donald Trump News– www.aljazeera.com

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US President Donald Trump has unveiled his long-awaited “reciprocal” tariff plan, in a move that sent financial markets reeling amid growing fears of a global trade war.

On Wednesday, Trump announced a 10 percent “minimum baseline tariff” on nearly all imports into the United States. Higher duties on targeted countries will be phased in shortly afterwards.

He claimed the new import taxes were designed to reduce trade deficits and bring foreign manufacturing back to US shores. He also said they would pave the way for tax future cuts.

As Trump took aim at a global trading system he said “ripped off” the US, his tariffs prompted an immediate backlash, with some of America’s largest trading partners promising countermeasures.

Trump announces new US tariffs on Mexican… beer– mexiconewsdaily.com

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United States President Donald Trump didn’t announce any “reciprocal tariffs” on imports from Mexico on Wednesday, but a 25% tariff on Mexican canned beer is set to take effect on Friday.

During a speech in the Rose Garden of the White House, Trump presented a chart outlining  “reciprocal tariffs” on imports from a long list of countries, but Mexico wasn’t among them.

In a fact sheet explaining the “reciprocal tariff” executive order the U.S. president signed on Wednesday, the White House said that Mexico and Canada are “unaffected by this order.”

“This means USMCA-compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA-compliant energy and potash will see a 10% tariff,” the White House said.

“In the event the existing fentanyl/migration IEEPA [International Emergency Economic Powers Act] orders are terminated, USMCA-compliant goods would continue to receive preferential treatment, while non-USMCA-compliant goods would be subject to a 12% reciprocal tariff,” the fact sheet said.

On March 6, Trump announced that imports from Mexico covered by the USMCA free trade pact would not be subject to U.S. tariffs until at least early April. He had imposed a 25% tariff on all imports from Mexico and Canada two days earlier due to what the White House said was the two countries’ failure to take adequate action against “the influx of lethal drugs” to the U.S.

Trump’s reciprocal tariffs, from highest to lowest so far – National– globalnews.ca

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U.S. President Donald Trump announced the range of reciprocal tariffs he is imposing against nearly 200 global trading partners, saying the U.S. has been “looted” and “pillaged” by other nations and needs to respond.

The list of countries and territories, laid out across eight pages of documents, includes a baseline 10 per cent tariff on the countries but imposes higher duties on many other countries.

Canada is not impacted — yet — but does continue to face existing tariffs as well as previously threatened auto tariffs that kick in on Thursday.

The chart shows the U.S. will charge a 34 per cent tax on imports from China, 20 per cent on European Union products and 25 per cent on South Korea.

Here’s a list of all the countries and overseas territories listed by the White House as facing “reciprocal” tariffs by the U.S. and the amount they will be hit with in duties from highest to lowest:

Liberation Day Is Here, And the List of Tariffs Is a MAGA Dream Come True– www.westernjournal.com

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President Donald Trump unveiled his reciprocal tariff plan Wednesday during a Rose Garden event the White House billed as “Liberation Day.”

With most of his cabinet on hand, as well as auto workers from Michigan, among others, Trump announced that he would be charging countries essentially half what his administration calculates, on average, they are imposing on the United States.

Further, there will be a 10 percent baseline across the board.

Trump called it a “kind reciprocal tariff” policy, saying he would be embarrassed to charge the full amount other countries are imposing on U.S. goods.

First on a list that Trump pointed to during the announcement was China, which he said charges the U.S. a 67 percent tariff (his chart indicated the administration’s tariff calculations include currency manipulation and trade barriers).

In response, Trump said his administration will be imposing a 34 percent tariff on Chinese goods.

Trump Tariffs Live Updates: Tariffs Send Wall Street Tumbling Toward Worst Day Since 2022– www.nytimes.com

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For three years, the U.S. economy has been buffeted by rapid inflation, high interest rates and political instability at home and abroad. Yet it has proved surprisingly resilient, supported by the sturdy pillars of robust consumer spending, a rising stock market, and healthy balance sheets for households and businesses alike.

But one by one, those pillars have begun to crack under the weight of tariffs and uncertainty. The all-out global trade war that President Trump declared on Wednesday could be enough to shatter what had arguably been the economy’s final source of support, the strong job market.

“The strength of the consumer is coming down to the jobs market,” said Sarah House, an economist at Wells Fargo. “And it’s increasingly perilous.”

The sweeping tariffs that Mr. Trump announced on Wednesday, and the duties that U.S. trading partners quickly imposed in retaliation, sent stock indexes around the world tumbling on Thursday. The effects won’t be limited to the financial markets: Economists say tariffs will raise prices for consumers and businesses, which will lead employers to pull back on hiring and, if the tariffs remain in place long enough, lay off workers.

“If the economy isn’t growing as fast, or it isn’t growing at all, you don’t need as many workers,” Ms. House said.

Economists will get their latest glimpse of the job situation on Friday, when the Bureau of Labor Statistics will release March figures on hiring and unemployment.

Trump Tariffs Drive Major Automakers To Boost Production In U.S., Offer Discounts To Americans– trendingpoliticsnews.com

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Two of the world’s largest automakers announced on Thursday that they are offering America First deals on new vehicles for customers or making production changes while seeking to take advantage of President Donald Trump’s new tariffs on foreign-assembled vehicles.

For the next several months, Ford will be touting a “From America, For America” deal, which will offer new customers the chance to purchase vehicles at employee pricing, potentially knocking thousands of dollars off the going rate.

Steve Croley, the company’s chief policy officer, told “Fox & Friends” that Americans deserve a break for going out of their way to buy American-made cars.

“We’re going to offer customers the same deal that our employees get. That’s worth thousands of dollars,” he told host Brian Kilmeade.

“We’ve heard some uncertainty from our customers and we want them to be assured that Ford, the most American auto company, is going to do right by them, as are our dealers. We make the most cars here, we employ the most, we export the most, and so we here at Ford, we’re in a good position to address customers’ concern and give them a really great deal on a great vehicle,” he added.