The Senate has once again rejected President Donald Trump’s tariff proposal — rejecting this time his plan to place duties on almost every country.
The upper chamber, in its third criticism of Trump’s offensive on trade, voted to end his emergency powers granted under the International Emergency Economic Powers Act. He had used these earlier this year, to apply a 10% global tariff.
Trump claimed that the decision was justified because of a “national crisis” reflected by large and persisting annual U.S. trade deficits. But some senators, including Republicans, didn’t buy it.
Measure introduced by Senator Ron Wyden, D-Ore., had previously failed in a 49-49 tie when Sens. Mitch McConnell, R-Ky. and Sheldon Whitehouse, D-R.I. missed voting. McConnell voted with GOP senators this time. Lisa Murkowski, Susan Collins and Rand Paul helped Democrats to pass the bill.
This is the third attempt this year by lawmakers to reduce Trump’s tariffs. The House has not moved to reduce Trump’s tariffs. Earlier resolutions focused on his 50% duty on Brazil, and 35% duty on Canada. Both of these raised bipartisan concerns but were unlikely to gain traction at the House where Trump’s trade policy is viewed as hardline.
Trump’s tone with Beijing was more friendly, even as the senators reacted negatively. After what he described as a “truly wonderful” meeting with Chinese president Xi Jinping the President announced he would shave off 10% of his fentanyl related tariffs against China, dropping them from 57 to 47 percent.
China cut the price after it agreed to tighten restrictions on minerals and chemicals vital to U.S. manufacturing.
Trump stated on Truth Social that “there is tremendous respect between our countries and this will only be strengthened with what just happened.” We agreed on many issues, and others of great importance were very close to resolution.
