Trump administration defends taxes as bipartisan lawmakers look to restore power over tariffs
President Donald Trump and his administration are once again defending his use of tariffs, arguing the new policy is already forcing changes.
The White House says more than 50 countries so far have reached out to jumpstart negotiations on lifting these taxes. Meanwhile, lawmakers in Washington are looking to restore Congress’s power over tariffs. I don’t want anything to go down, but sometimes you have to take medicine to fix. President Trump refusing to back down on global tariffs. The administration is doubling down on evening out trade, telling consumers to. Paying tough while global markets nosedive. Republicans say we’ll see the payoff as the White House negotiates lower trade rates with other countries, while Democrats counter they’re worried about inflation reigniting and stock market losses in the meantime. *** bipartisan Senate bill that would require Congress to sign off on the president tariffs now has at least one Republican supporter in the House in Washington, I’m Amy Lou.
Trump administration defends taxes as bipartisan lawmakers look to restore power over tariffs
President Donald Trump and his administration are once again defending his use of tariffs, arguing the new policy is already forcing changes.
Updated: 8:21 AM EDT Apr 7, 2025
President Donald Trump and his administration are defending his tariffs while downplaying the potential economic and political consequences.The White House reports more than 50 countries have reached out to jumpstart negotiations while telling consumers to “hang tough” despite global markets continuing to nosedive.”What’s going to happen to the markets, I can’t tell you. But our country is much stronger,” Trump said aboard Air Force One Sunday. “I don’t want anything to go down, but sometimes you have to take medicine to fix something.””There doesn’t have to be a recession,” Treasury Secretary Scott Bessent said, defending the tariffs in an NBC News interview Sunday. “Who knows how the market is going to react in a day, in a week.”Some Republicans in Congress echoed the expected payoffs while Democrats pushed back.”Once the president starts announcing some negotiations in some different countries, we’ll start to see the market calm,” Sen. James Lankford, R-Oklahoma, said on NBC. “We’ll start to see the rates come down pretty quickly.””He’s wrecking our economy,” Sen. Adam Schiff, D-California, said on NBC. “I think people have seen their retirement savings on fire.”Now, bipartisan lawmakers are taking action. Rep. Don Bacon, R-Nebraska, plans to introduce the House version of a Senate bill requiring Congress to sign off on the president’s tariffs in a move to restore power over trade policies.”We gave some of that power to executive branch,” Bacon said in an interview with CBS News. “I think, in hindsight, that was a mistake.”
WASHINGTON —President Donald Trump and his administration are defending his tariffs while downplaying the potential economic and political consequences.
The White House reports more than 50 countries have reached out to jumpstart negotiations while telling consumers to “hang tough” despite global markets continuing to nosedive.
“What’s going to happen to the markets, I can’t tell you. But our country is much stronger,” Trump said aboard Air Force One Sunday. “I don’t want anything to go down, but sometimes you have to take medicine to fix something.”
“There doesn’t have to be a recession,” Treasury Secretary Scott Bessent said, defending the tariffs in an NBC News interview Sunday. “Who knows how the market is going to react in a day, in a week.”
Some Republicans in Congress echoed the expected payoffs while Democrats pushed back.
“Once the president starts announcing some negotiations in some different countries, we’ll start to see the market calm,” Sen. James Lankford, R-Oklahoma, said on NBC. “We’ll start to see the rates come down pretty quickly.”
“He’s wrecking our economy,” Sen. Adam Schiff, D-California, said on NBC. “I think people have seen their retirement savings on fire.”
Now, bipartisan lawmakers are taking action. Rep. Don Bacon, R-Nebraska, plans to introduce the House version of a Senate bill requiring Congress to sign off on the president’s tariffs in a move to restore power over trade policies.
“We gave some of that power to executive branch,” Bacon said in an interview with CBS News. “I think, in hindsight, that was a mistake.”
