Free Republic

President Donald Trump on Sunday insisted there will be no exemptions in the tariffs after there was some confusion when it came to electronics. 'NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!' the president posted on Truth Social. A notice released late on Friday suggested gadgets would avoid Trump's 125 percent import tax on Chinese goods and even his sweeping 10 percent global tariffs. But his administration clarified on Sunday that electronics would be subject...

The president’s aides insist the fallout will be short and ultimately result in a better economy, as economists warn of higher inflation and slower growth.In the weeks leading up to his expansive global tariffs, President Trump and his top aides tried to prime the public for economic pain. They warned that while there would be fallout from their aggressive trade strategy, it would prove short-lived and benefit the economy in the long run. Investors, businesses and others made clear on Thursday that the U.S. economy was not ready to accept that approach. Global markets tumbled, economists warned of a possible...

Sen. Rand Paul (R-Ky.) said Wednesday that it is a “fallacy” to think tariffs will help the country’s economy as President Trump gears up to impose massive reciprocal tariffs on U.S. trading partners. Paul, who has spoken out against tariffs previously, joined The Hill’s “Rising” on Wednesday, where he discussed his disagreement with tariffs, calling them “a tax.” “On tariffs, I think it’s just economically — it’s a fallacy to think that it’ll help the country,” the Kentucky senator said. “Tariffs are a tax, and if you tax trade or if you tax anything, you’ll get less of it.”

Four Republicans – Sens. Rand Paul and Mitch McConnell, of Kentucky; Susan Collins, of Maine; and Lisa Murkowski, of Alaska, sided with Democrats in voting for a resolution that would repeal the emergency declaration that permitted Trump to levy taxes on Canada by citing deadly fentanyl flowing across the border. The measure, introduced by Sen. Tim Kaine, D-Va., passed the upper chamber of Congress by a 51-48 vote.