Pennsylvania Senator John Fetterman acknowledged that his party had misjudged President Donald Trump’s tariffs, suggesting that the ongoing trade war is “going well.”
When asked by Fox News Digital whether he believed the Trump administration was succeeding in the trade war, Fetterman responded, “Absolutely.”
He mentioned his admiration for Bill Maher, referring to him as a notable voice within his party.
Fetterman’s comments came as Canada increased its tariffs from 25% to 35% to combat the importation of fentanyl and other illegal drugs, a move prompted by an inability to manage the issue.
The White House indicated that Trump signed an executive order on Thursday aimed at amplifying U.S. involvement in Canada’s efforts to address its role in drug trafficking into the U.S.
Moreover, Trump enacted a separate executive order on the same day to modify mutual tariff rates with various countries to address the U.S. trade deficit more effectively.
This step reflects Trump’s goal of shielding the U.S. from foreign threats to both national security and the economy, ensuring “fair, balanced and mutual trade relations,” according to the White House.
Earlier this year, Trump announced a fresh 10% tariff applicable to all countries and sought increases in tariffs where the U.S. faced significant trade barriers. These tariffs took effect on April 9.
Since then, Trump and his administration have forged a number of trade agreements with multiple countries.
For instance, the U.S. and the European Union signed a contract in which the EU pledged to purchase $750 billion in U.S. energy and invest $600 billion in the U.S. by 2028, along with accepting a baseline 15% tariff rate.
Additionally, a deal with Japan was established, involving a $550 billion investment to support U.S. industrial growth, with Japan also agreeing to broaden its market for U.S. exports and a baseline 15% tariff rate.
Yet, many Democrats remain opposed to Trump’s tariff policies, expressing concerns about their potential negative impacts.
Senator Jack Reed remarked that despite current revenue increases, a notable rise in consumer prices would soon follow, leading to major disruptions across various industries due to supply shortages.
“Full-scale tariffs act like a national sales tax. People will increasingly feel the effects,” warned Senator Chris Van Hollen from Maryland.
Massachusetts Senator Elizabeth Warren argued that while Trump may boast about tariff rates, foreign trading partners are actively seeking other markets, which undermines U.S. reliability as a trading partner. This, according to her, negatively impacts the U.S. economy.
Warren also contended that Trump’s tariffs are a factor preventing the Federal Reserve from lowering interest rates.
Jerome Powell had stated that interest rates might have been cut earlier this year if not for the disturbances caused by Trump’s trade policies, which have led to higher payments for many American families on loans and mortgages.
A Republican representative, speaking to Fox News Digital, urged the president to intensify his tariff strategy.
“I believe that’s the right path forward. It’s something I’ve consistently advocated, and the success he’s achieved reflects a significant victory for America,” stated Senator Ted Cruz from Texas.
As Democrats voiced their concerns regarding the economic repercussions of tariffs, Cruz ironically expressed surprise at the continued negative outlook from them despite their association with a struggling economy under Trump.
“If some Democrats could set aside their resentment towards Trump and work collaboratively for American workers and jobs, that would be productive,” Cruz added, emphasizing the current lack of bipartisan interest.
Senator John Kennedy from Louisiana expressed optimism about the future impacts of tariffs, aiming ultimately for a mutual zero percent tariff situation with trading partners.
“From one perspective, the President has secured a favorable deal. The Europeans committed to a 15% tariff while offering zero to us and pledging to invest in our economy,” he explained.
“This is the standard we should aim for in all trade dealings,” Kennedy added, advocating for a fair free enterprise system where the best products prevail at the best prices.
