Sen. Jeff Flake introduces legislation to nullify Trump's plan to raise tariffs

"'The president's decision today to impose tariffs on steel and aluminum imports is disappointing, economically regressive and counterproductive".

The competing economic instincts that are dividing Trump from the rest of his Republican Party were on full display Thursday. The president said USA political leaders preceding him had allowed the decline of manufacturing in the nation, and cited a protectionist predecessor, President William McKinley, in defense of the tariffs.

Ryan urged Trump to be more "surgical", while McConnell noted on Tuesday that the North American Free Trade Agreement (NAFTA) had been a "winner" for his state.

President Trump has reiterated that he is not "backing down" on the tariffs.

We have to have bilateral and multilateral trade deals if we are to catch up.

Tim Phillips, the president of Americans for Prosperity, also condemned the tariffs as "disappointing" and a threat to the economy. Dan Simmons, president of United Steelworkers Local 1899 in Granite City, Ill., said they "will allow us to compete". Trade wars are not won, they are only lost.

Oil price rises towards $70
Crude oil prices fell Monday ahead of closely watched United States inflation data that may set the stage for interest rate hikes. At stake is OPEC's production limits, which are among factors helping the oil market's monthslong recovery.

The best chance for any of Trump's proposals to get pushed through is for some of them to be added to the must-pass spending bill that must be finished before the end of March.

"The Trump administration would mar its otherwise strong economic record by imposing these tariffs", Brandon said in a statement.

While many Republicans opposed Trump's tariff plan, what they can do about it in Congress is uncertain.

"It undermines the benefits that the new tax law provides and runs counter to our goal of advancing pro-growth trade policies that will keep America competitive in the 21st century global economy", he said.

"I generally support the president on just about everything, but I think he's been misled, there are some people down there who have been misleading him on some of these things", Hatch continued. "Just look at southwestern PA".

Josh Bivens, the director of research at the Economic Policy Institute, wrote in an op-ed at the New York Times ahead of Trump's announcement that backlash to the plan is "reflexive anti-Trump sentiment rather than careful economic reasoning". "Not really - but this doesn't mean we shouldn't be happy to have some breathing room to find one".

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