Facing President Donald Trump's sweeping new tariffs On Thursday, Wall Street traders expressed their concerns by selling off trillions in stock market value, driven by increasing worries about inflation and an economic downturn.
At the same time, Republicans on Capitol Hill—who possessed the voting power needed to halt the new tariffs immediately—stated plainly that they were not planning to take action for now.
"I believe many of our colleagues are quite open to giving the president some leeway," stated Arkansas Senator. John Boozman To summarize, this reflects the stance of numerous Republican legislators who may be uneasy about Trump’s significant new taxes but appear reluctant — at least for the present time and foreseeable future — to take any substantial action to curb his actions.
One side of this shows how cautious Republican legislators have become in restraining or confronting Trump, who has transformed the GOP in his likeness throughout ten years. Conversely, signs of potential future resistance appeared as well — with four Republican senators indicating their dissent. voted with Democrats Wednesday To reverse a previous set of smaller tariffs, and a seasoned Republican senator suggested limiting the president’s authority to impose such duties.
Yet throughout daylong interviews on Thursday, as market conditions worsened further, senators emphasized they had no intention of taking risks regarding this matter.
"I believe Congress has voluntarily surrendered its constitutional power to the executive branch, and while I might support beginning to reclaim some of this authority, that is not our current position," Senator stated. Ron Johnson of Wisconsin.
As Democrats look forward to a potential shift as they return to their home states, hoping this will increase pressure on them to take action, Republican senators are indicating that for the present, they are becoming more resistant to attempts aimed at reversing Trump’s tariffs in the short term.
"I believe their challenge lies in how their actions seem like a politically motivated effort aimed at discrediting the president," Senator stated. Mike Rounds In South Dakota, it was forecasted that upcoming votes aimed at eliminating Trump’s tariffs would play out like a "shirts and skins game" in the Senate.
The swift response brought up an inquiry that many Republicans preferred not to address: Under what circumstances would they decide to cut ties with Trump's tariff initiative? To what extent would market conditions need to deteriorate?
Despite some Republican Party senators considering whether they ought to reclaim some authority following years of gradually relinquishing it to the executive branch, many of their peers provided a dose of realism: That isn’t likely to occur.
One, Sen. Josh Hawley Of Missouri stated that Congress ought to intervene solely to increase tariff rates. Various other individuals, including Senator, expressed similar views. John Kennedy Of Louisiana expressed doubt that a legislation limiting President Trump’s authority would ever be approved.
"We require some equity here. We have been exploited during both Republican and Democratic administrations in the past, but that exploitation has now ended," said the Senate Majority Whip. John Barrasso mentioned when questioned about the extent of support Republicans would provide Trump to demonstrate his policies' effectiveness.
A high-ranking Republican staff member, who spoke under condition of anonymity to discuss internal party matters, mentioned that GOP legislators were ready to allow Trump "at least several months." The staffer added, "Everybody is scared," but also noted, "I don't believe anybody wishes to antagonize the president presently."
Democrats intend to push for repeated decisions on this matter over the next several days and weeks. On Wednesday, they achieved an early victory by convincing four Republican senators to support their symbolic resolution aimed at rejecting Trump’s tariffs imposed on Canada, which were initially declared back in February.
On Thursday, they outlined intentions to repeat the process with a proposal that might reach the Senate floor later this month, aimed at reversing the extensive tariffs implemented by Trump earlier this week. Additionally, House Democrats disclosed strategies to pursue similar actions from their end within Congress. Meanwhile, Democratic senators were considering methods to bring attention to Trump’s trade decisions through an extended sequence of budget votes anticipated over the weekend.
"He’s leading us into what could very likely be the stupidest and most unnecessary recession in history," said the Senate Minority Leader. Chuck Schumer said about Trump.
A bipartisan bill was unveiled on Thursday by Senators. Chuck Grassley (R-Iowa) and Maria Cantwell (D-Wash.) Would restrict the president's authority over tariff decisions , providing Congress with a 60-day window to approve any new tariffs and granting them the authority to terminate any tariff at any moment.
However, only a few Republican senators showed interest in that proposal, and reversing the Trump-era tariffs currently enforced would necessitate significant defections within the GOP — a scenario that does not appear likely to happen soon.
The law that President Trump utilized to impose his tariffs, known as the National Emergencies Act, empowers Congress to swiftly consider and pass a disapproval resolution aimed at nullifying the justification for these duties. However, significant hurdles stand in the way: not only must the Senate take action, but the Republican-led House would also need to ratify the identical legislation. Subsequently, Trump retains the option to reject this move via a veto, necessitating a supermajority—two-thirds—to overturn his decision.
Already within the house, Speaker Mike Johnson He has taken steps to ensure no votes take place. He implemented a clause that effectively blocked a Democratic attempt to compel a vote on the Canadian tariffs, and he might use similar tactics against Trump’s new set of "Freedom Day" levies. In response, Democrats stated they are considering various strategies—such as potentially filing a discharge petition—to initiate a vote in the House.
Despite worsening economic conditions, Johnson would encounter significant hurdles in merely permitting a vote to take place, which could expose him to potential ouster attempts from House hardliners staunchly backing Trump’s trade policies. The speaker has strong ties with the president and relies on his support to push through an extensive domestic agenda later this year.
The White House on Thursday announced new measures. provided talking points to Republican legislators As for the market downturn, they remained largely silent. However, they proposed criticizing the free-trade policies that many of these individuals have historically endorsed, arguing that such policies resulted in "the betrayal of the middle class" and "the deterioration of smaller communities throughout America."
While Trump is unlikely to even run for political office again, most congressional Republicans will be standing for reelection in 2026, and some Democrats said they believed support could grow over time inside the GOP for undoing at least some of the tariffs.
Sen. Tim Kaine Of Virginia, who penned the disapproval resolution passed on Wednesday, anticipated that a "broader spectrum" of Republicans would eventually agree—especially following their departure from Washington next week for a two-week break.
"I believe individuals should return home and listen to what their constituents are saying," he stated.
A second aide affiliated with the GOP, who spoke under condition of anonymity due to internal party deliberations, refrained from forecasting a mass exodus within the Republican Party. However, they warned that the economic upheaval was only starting, noting that retaliatory tariffs imposed by US trade allies were still pending implementation. They added grimly, "If current conditions seem dire now, prepare for an even rougher ride ahead.”