Trump is digging in on tariffs and GOP leaders have his back
Tom Williams/CQ Roll Call
- Donald Trump and the White House offered a muddy message on trade.
- Markets continued to be roiled by Trump's plans for retaliatory tariffs.
- In the meantime, GOP leaders said a bill to rein in Trump's tariffs is going nowhere.
President Donald Trump on Monday said he's not open to pausing planned reciprocal tariffs as his trade war continues to roil markets and create political headaches for fellow Republicans.
The White House, including Trump, continued to send conflicting messages about whether his tariffs were an effort to bring nations to the table or a massive policy shift aimed at reorienting the US economy.
"There can be permanent tariffs and there can also be negotiations," Trump told reporters at the White House.
Treasury Secretary Scott Bessent told Fox Business that "50, 60, maybe almost 70 countries now have approached" the White House to discuss tariffs.
Earlier in the day, White House senior counselor Peter Navarro wrote in the Financial Times, "This is not a negotiation. For the US, it is a national emergency triggered by trade deficits caused by a rigged system."
Amid mounting political pressure, the GOP leaders of both chambers made it clear they stand behind the president.
"I don't think that has a future," Senate Majority Leader John Thune told reporters about a bipartisan bill to rein in presidential tariff powers.
Thune's comments came after the White House formally said that Trump would veto a bill to rein in presidential tariff power.
So far, seven Senate Republicans, including Sens. Chuck Grassley and Mitch McConnell, have said they would vote for such a bill. Grassley is the senior most Senate Republican and third in line to the presidency. McConnell led Senate Republicans for nearly two decades.
Across the Capitol, Speaker Mike Johnson sounded a similar note.
"You've got to give the president the latitude, the runway to do what it is he was elected to do," Johnson told reporters when asked about similar House legislation.
Under Grassley's bill, new tariffs would expire if Congress didn't approve them within 60 days. Presidents would also be required to notify Congress of future tariffs ahead of their announcement. Rep. Don Bacon of Nebraska, one of the most vulnerable House Republicans, has said he would introduce legislation similar to Grassley's in the House.
Before Trump, free trade was one of the pillars of the modern Republican Party. Trump has supported protectionist policies for decades and has been deeply critical of US trade policy.
The White House has sought to buck up support for Trump's latest round of tariffs amid a slump on Wall Street.
The Dow Jones Industrial Average fell for the third straight day on Monday.
Trump argues short-term pain will ultimately benefit the economy.