'I hope he's right:' Trump's tariffs are rattling GOP senators

• Trump's tariff announcement has some GOP senators rattled.
• "I am not a fan of tariffs. Tariffs are a tax on the American people," said Sen. Ted Cruz.
• But several declined to back a new bill to reign in Trump's tariff powers.

As the markets reel from President Donald Trump's Wednesday tariff announcement, senators in his own party are dealing with the fallout.

Speaking with reporters at the Capitol on Thursday, several GOP senators said that Trump's tariffs are likely to cause significant economic disruption in the short term. And several indicated they believe — or hope — that he's just negotiating.

"I'm sure there are ongoing discussions today with certain countries, which I'm not privy to," Sen. Shelley Moore Capito of West Virginia said. "But, you know, it's pretty rough right now."

"I think we're going to have some volatility for a while here, until we get some more answers," Sen. Mike Rounds of South Dakota said.

It's not just the more establishment-minded Republicans who are sounding a skeptical note on Trump's moves. It's also doctrinaire fiscal conservatives who are sounding the alarm.

"I am not a fan of tariffs. Tariffs are a tax on the American people," Sen. Ted Cruz of Texas said. "If the result of these tariffs is that other countries lower their tariffs on American goods, and the United States, in turn, lowers these newly imposed tariffs on foreign goods, that result would be a very good result. That's where I hope we go."

Sen. Rand Paul of Kentucky, one of four GOP senators who took a symbolic vote to block Trump's power to impose tariffs on Canada on Wednesday, said that the market turmoil showed that he's not the only one concerned about Trump's trade policies, even if he's one of the only GOP senators who's been speaking up until now.

"That's millions and millions of people, buying and selling stocks, that are very, very concerned that tariffs are going to cause the economy to go the wrong direction," Paul said.

Other Republicans say they're in wait-and-see mode.

"He believes this is exactly what he has to do, okay? And I hope he's right. I hope the naysayers are wrong," Sen. Ron Johnson of Wisconsin said. "I don't know."

"I have pretty strong feelings that it's going to be beneficial in the long run," Sen. Cynthia Lummis of Wyoming said. "So the issue is going to be, can we sustain the short-term consequences of this."

GOP senators decline to assert congressional authority on trade

Much like DOGE's cuts, Trump's tariff announcement has revived a conversation about the declining power of the legislative branch.

The US Constitution gives Congress the power to levy tariffs, the International Emergency Economic Powers Act, passed in 1977, has allowed presidents from both parties to impose tariffs on their own.

To address that, Republican Sen. Chuck Grassley of Iowa and Democratic Sen. Maria Cantwell of Washington introduced a bill on Wednesday that would make tariffs subject to congressional approval within 60 days.

But as with DOGE, other Republicans largely demurred on whether they'd support it, eager not to limit Trump's power.

"We've made a mistake in delegating a lot of power to the executive branch," Sen. John Cornyn of Texas said. "But that's not just a feature of this administration."

"I think there's something to be said for having congressional review," Republican Sen. Thom Tillis of North Carolina said, before quickly adding: "Then that becomes incendiary, and everybody's going to report that there's a rift between us and the administration, which is bull… I caught myself."

"If they want to revisit that, you know, more power to them," Sen. Josh Hawley of Missouri said. "But I think on the underlying policy, let's give the president time to work."

"By the way, I think the China tariffs should be even higher," he added.