Some Republicans in Congress are looking to reclaim authority over tariff policy and overturn President Donald Trump’s aggressive tariffs.
Stocks have slid since Trump announced extensive 10% tariffs on all imports and, in some cases, higher tariffs on certain countries based on trade deficits. While Trump has rolled back some of the high country-specific tariffs for 90 days, the 10% tariffs are still in place and have proven controversial.
Not only does Wall Street want to see Trump’s tariffs reined in, so do Democrats. A number of Republicans do as well. Many in the GOP are free-trade advocates, but have deferred to Trump on the question of tariffs as he has dominated the party.
The House and the Senate could vote for legislation to take more tariff authority from Trump,
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