As stock markets tumble in the aftermath of President Donald Trump’s sweeping tariffs, Republicans in Congress were watching with unease and talking of clawing back their power to levy tariffs — but almost none seemed ready to turn their words into action.
The Republican president is upending longstanding GOP principles like support for free trade, yet despite clear misgivings and a Constitutional mandate to decide tariffs, most lawmakers were not ready to cross Trump. Instead, they were focusing all their attention on advancing the president’s ” big, beautiful bill ” of tax breaks and spending cuts, even as tariffs — in essence, import taxes — threatened to raise consumer prices across the board and push the global economy into a recession.
As the fallout from Trump’s announcement reverberated around global markets, Senate Majority Leader John Thune, who has made it clear he is no fan of tariffs, told reporters that he would give Trump “the benefit of the …