The backlash from President Trump’s new tariff policy continued over the weekend, as his approval ratings dropped and Republicans in Congress worked to advance his domestic agenda.
Financial markets experienced a significant decline following the introduction of flat 10% tariffs on all imports, along with steep reciprocal tariffs on numerous countries.
However, on Wednesday, the president altered his strategy, temporarily suspending most tariffs and encouraging the market’s recovery. On the same day, Trump raised tariffs on Chinese products by 125%, adding to the 20% duty levied on the world’s second-largest economy earlier this year.
On Friday morning, China responded by announcing it would impose a 125% tariff on all goods from the US entering Beijing.
Ray Dalio, the founder of Bridgewater, who will appear on NBC’s “Meet the Press,” will also be discussing Trump’s tariffs. Earlier this week, business leaders predicted that a recession is likely, but due to the country’s “changes in the financial system,” it may not resemble a typical recession.
Dalio also reached out to Trump in a long post on the social media platform X, advocating for a mutually beneficial trade agreement with China.
As a result of these sweeping tariffs, the President’s approval ratings took a hit, according to a recent survey. Nevertheless, the White House has reached out to the US, aiming to negotiate new trade agreements with over 75 countries, with 15 proposals already in progress.
“The phone is practically ringing off the hook for deals,” stated White House spokesperson Carolyn Leavitt.
US Trade Representative Jamieson Greer, who appeared on CBS News’ “Face the Nation,” mentioned that he had discussions with multiple countries since Trump’s decision to suspend most tariffs, revealing to Fox News on Wednesday that he has a “full dance card.” On “Face the Nation,” Greer could talk about these negotiations and how Trump’s trade policies affect American consumers.
Meanwhile, House Republicans on Capitol Hill have been actively working to pass the Senate budget proposal this week. This marks the initial step in implementing a crucial segment of Trump’s legislative agenda. They successfully finished the process on Thursday and passed the bill through party lines, with a vote of 216-214 after efforts to secure support from the Finance Hawk faction.
Some moderate Republicans expressed their commitment to spending cuts, raising concerns that the Finance Hawk faction fears cuts could negatively impact Medicaid, thereby expressing dissatisfaction with the ongoing process.
“These individuals are focused entirely on their interests while those truly in vulnerable positions are left behind,” remarked a moderate Republican to Hill.
Senator Ron Johnson (R-Wis.), who supports the Senate’s plan and will be featured in “The Hill Sunday,” will address Congress’ attempts to pass the President’s legislative agenda.
However, Wisconsin Republicans have voiced uncertainty about Trump’s trade strategy, stating earlier this week: “We understand his objective… he desires reciprocity,” but “I’m still unsure what the end goal is here.” This raises questions about the implications of Trump’s economic policies for consumers in Wisconsin.
These topics and more may be explored in this weekend’s Sunday shows.
News Nation “The Hill Sunday:” Senator Ron Johnson (R-Wis.); Rep. Gabe Amo (D-R.I.).
ABC’s “This Week:”Commerce Secretary Howard Lutnick and Senator Elizabeth Warren (D-Mass.).
CNN’s “State of the Union:”Warren, Director of the National Economic Council Kevin Hassett, and Rep. Tim Burchett (R-Tenn.).
CBS’s “Face the Nation:”US Trade Representative Jamieson Greer, Rep. Locanna (D-Calif.); President and CEO of Minneapolis Neil Kashkari.
NBC’s “Meet the Press:”White House trade advisor Peter Navarro; Sen. Cory Booker (D-N.J.); Ray Dalio, founder of Hedge Fund Bridgewater Associates;
Fox News’ Fox News Sunday:Secretary of Agriculture Brook Rollins; Illinois Governor J.B. Pritzker (D); Sen. James Lankford (R-Okla.).
Fox News “Sunday Morning Futures:” Secretary of Defense Pete Hegseth; Steven Miller, Deputy Chief of Staff to the White House; House Speaker Mike Johnson (R-La.); Iranian Crown Prince Leza Parav;
