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Trump tariffs spark GOP jitters

5 1
06.08.2025
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Business & Economy

Business & Economy

 

The Big Story

Trump tariffs spark GOP jitters

Republicans are feeling jittery after the latest jobs report showed the economy added far fewer jobs than previously estimated over the past three months.

© Getty Images

President Trump and his economic team insist the economy is going strong and poised for significant growth, but their bullish projections are meeting skepticism from some in the GOP who worry Trump’s trade regime is creating economic headwinds.

“It definitely is indicative of a weakened economy, an economy that’s not acting in a robust fashion. I’ve all along felt like there’s a lag between tariffs and actual economic downturn,” Sen. Rand Paul (R-Ky.) said.

Trump announced a new round of tariffs, including steep tariff increases on Canada and Brazil, the same day the jobs report was released.

Paul argued the impact of tariffs are often delayed because companies usually sign contracts to set the prices of imports months in advance.

Once those contracts expire, the higher prices of imported raw materials or finished goods are then reflected in the next round of business agreements, he said.

The Hill's Alexander Bolton has more here.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

 

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