A Republican senator has a serious warning about what the new rates of Donald Trump can do the American economy.
Sen. Rand Paul, R-Ky., A well-known Libertarian, is one of the few Republicans who has led to the new series of rates of the president.
Paul has the consequences of the new policy that may have been on the US economy for months. He first warned of the President's protectionist policy in the fall.
Now he warns that the rates can also lead to political destruction for Republicans.
Paul told reporters on Wednesday that, in addition to changes in markets, rates' also 'led to political decimation'.
'When [former President William] McKinley imposed the most famous rates in 1890, they lost 50 percent of their seats in the national elections, “remarked the Kentucky Republican and brought the last time that a president called on such a radical tariff overhaul.
'When [Smoot-Hawley] In the early 1930s we set up their rate, we lost the parliament and the Senate for 60 years, “the Senator continued, this time a tariff regime led by congress.
“So they are not only economically bad, they are politically bad,” said Paul.
Sen. Rand Paul, R-Ky., Refried Trump's claim that the rates will help the US Paul's rates have repeatedly called a burden on the American people
President Donald Trump gives comments about rates in the rose garden in the White House in Washington, DC, US, 2 April 2025
The president means an executive order that sets mutual rates
Paul went to the Senate floor on Wednesday to beat the new rates.
“Despite arguments of the opposite, Americans know that rates are a tax they have to pay,” said the senator. “This is a tax, clear and simple.”
“Taxes may not be determined by one person,” said Paul.
He was also a four GOP Senators to vote on a resolution to undo the 25 percent Trump rates on Canada on Wednesday evening.
Sens. Lisa Murkowski from Alaska, Susan Collins from Maine and Mitch McConnell from Kentucky also voted against the new economic regime of the president against the northern neighbor of the US.
The legislators argued for various rating rates between American allies and opponents.
They joined all Democrats to give the liberals a rare victory in the Republican controlled Senate.
“We are not at war with Canada,” Paul said after the mood. “They are an ally who buys more of our things than almost any other country in the world.”
Canada bought around $ 350 billion in goods from the US last year, according to the Comtrade database of the United Nation. Conversely, the US bought more than $ 410 billion in supplies from Canada in 2024.
Signs printed for the White House event indicated the specific rates that would be paid by other countries
A Maga hat hangs for a plate with falling prices at the New York Stock Exchange
“With so many worldwide, the last thing we need to choose fights with the friends we should work with to protect against China's predatory and unfair commercial practices,” McConnell said in a statement after the mood.
Many major US stock indexes had fallen on Thursday after Trump signed the rates in force.
The Dow Jones, S&P 500 and the Nasdaq composite were all lower after the new policy.
