President Donald Trump's 12th week in office is likely to revolve around the consequences of various new tariff announcements made last week and the visits from Israeli Prime Minister Benjamin Netanyahu.
“Stay Strong,” Trump defended the fresh US tariffs on social media on Saturday, stating that “it's challenging, but the ultimate outcome is groundbreaking.”
His remarks suggest that much of Trump's 12th week since taking office will be dedicated to his recent decision to initiate tariffs affecting numerous nations globally. He contended that these policies would eventually “energize” the economy as part of his “economic transformation.”
Stephen Miller emphasizes the need for Americans to recognize how we were “poorly” misled as a nation
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu are set to meet at the White House on February 4th, 2025. (Anna Money Maker/Getty Images)
However, worries persist regarding the economic repercussions of the new tariffs, especially after the S&P 500 and Nasdaq experienced their worst performance in a decade last week. Additionally, the Dow Jones industrial average dropped 2,231.07 points (5.5%) on Friday, amplifying concerns about Trump's trade strategies.
Senate minority leader Chuck Schumer, during a CNN appearance over the weekend, labeled the tariffs a “significant assault on American households” and claimed that the measure would only profit “the wealthy.”
Nonetheless, Trump seems poised to escalate his tariff efforts further, asserting that his trade strategy will ultimately prove to be a “success” in the future.
Chuck Schumer commented on Trump's tariffs. (Reuters)
Trump’s tariffs on China encounter legal challenges from conservative organizations.
“We're bringing back jobs and businesses like never before. The investments have already exceeded $5 trillion and are rapidly increasing! This is an economic transformation and we are on course to succeed.”
Simultaneously, Trump is expected to welcome Netanyahu at the White House on Monday, and the two leaders are likely to discuss not just the 17% tariffs the president has imposed on US allies for multiple years but also the ongoing expansion of Israel's actions in Gaza.
Trump may also focus on Congress ahead of time as GOP lawmakers proceed with advancing the president's various spending initiatives.
House Speaker Mike Johnson (Andrew Harnik/Getty Images/file)
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The Senate passed Trump’s budget plan over the weekend. This will need the House of Representatives’ approval to proceed into the budget review phase. However, there is still skepticism about whether Trump’s proposals can pass in the lower chamber this week.
“The Senate may draft a settlement bill, but we cannot endorse the Senate’s changes until we have a clear view of the spending and deficit reduction strategies to implement President Trump's first American agenda.”
