President Donald Trump’s promises of extracting favorable deals from numerous trading partners is collapsing, and Republicans are furious they are again staring down the barrel of ferocious tariffs.
“Business hates uncertainty,” said Sen. Thom Tillis (R-N.C.), who the Hill reports warned Republicans would face political headwinds next year if the Trump White House didn’t settle its global trade disputes quickly. “… If you’re going to go into a trade war, it’s good to have allies. What we did is alienate the ones we know are naturally inclined to work with us.”
Trump announced — and then temporarily delayed — painful tariffs on U.S. trading partners, claiming to be working in the background to hash out individual trade deals. But in the absence of progress Trump is now claiming to be moving forth with a new round of steep tariffs on 14 countries, including South Africa, Kazakhstan, Tunisia, Serbia, Laos, Myanmar and Bosnia and Herzegovina, all between 25 percent to 40 percent.
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The administration also promises 25 percent tariffs on Japan, South Korean and Malaysia, 36 percent tariffs on Thailand and Cambodia and a 35 percent tariff on Bangladesh, as well as a 32 percent tariff on Indonesia, the Hill reports. The tariffs will go into effect on Aug. 1.
One Republican senator speaking anonymously with the Hill admitted they are secretly worried about the tariffs, which amount to a tax on U.S. consumers and businesses.
“Everybody would like for progress to come quickly. Hardly anybody would be for delay,” the lawmaker said.
Most Republicans speaking publicly temper their anxiety with acclaim, including Sen. Shelley Moore Capito (R-W.Va.) who admitted to the Hill that “there’s still a lot of uncertainty,” while praising Trump for “working hard” on the matter.
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The administration purports to have quietly hammered out “agreements” with some trading partners to avoid tariffs, but these agreements have not been officially revealed. Capito told the Hill she and other lawmakers hope to get updates when they meet with Commerce Secretary Howard Lutnick on Wednesday.
“[H]e says he has agreements. If he makes them publicly, if they can nail them all down detail-wise — we’re having Lutnick tomorrow, so I’m sure that will be talked about,” Capito said.
Read the full Hill report at this link.