WASHINGTON (NEXSTAR)—On Wednesday, a group of Republican senators voted along with Democrats on a resolution to undo President Donald Trump’s 25% tariffs on Canadian imports.
“For decades, our country has been looted, pillaged, raped, and plundered by nations near and far,” President Trump said.
A major shake-up in U.S. trade policy, President Trump announced sweeping global tariffs on all imports, a move he says will protect American jobs and industries.
“It’s our declaration of economic independence,” Trump said.
The plan includes a baseline 10% tariff on goods.
The president held up a chart to show countries like China will face a 34% tax on its exports to the U.S., while the European Union will see a 20% tariff.
Treasury Secretary Scott Bessent calls the move fair.
“All we are doing is matching what they’re doing to us,” Bessent said.
Kentucky Republican Senator Rand Paul agrees with Democrats on tariffs.
“The people who are for tariffs are just wrong,” Paul said.
“The tariffs that we’ve heard announced from Donald Trump just hours ago, are going to lead to what’s going to be seen as a national sales tax. It’s going to be the Trump sales tax,” Senator Ben Ray Lujan (D-N.M.) said.
The global markets are reacting cautiously, and businesses are bracing for potential ripple effects
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