House Speaker Ryan talks tariffs, tax reform during Atlanta visit

More warnings come in response to Trump's tariff plans

More warnings come in response to Trump's tariff plans

Republicans could also block a three-year renewal of the administration's Trade Promotion Authority later this year, an extraordinary step given that Republicans voted three years ago to give then-President Barack Obama, a Democrat, such power. Since the impact of the tariffs would be bad for American workers, that's a good thing. This is happening at the same time that the economy as a whole is booming, the jobless rate is at near record lows, and the stock market seems to keep going up.

Louisiana, for example, is a huge importing state and relies on steel and aluminum imports for its gas industries. This doesn't mean that Venezuela is doing better economically than the United States; it simply means that they send more goods overseas than they buy.

"We urge you to reconsider the idea of broad tariffs to avoid unintended negative consequences to the USA economy and its workers", the lawmakers wrote.

On the flip side, imposing these tariffs, though it may help domestic steel and aluminum manufacturers, will raise the cost of everything made out of those products, from cars to computers to soda cans to iPhones. "It'll cost jobs, not to mention, increasing prices for consumers". "While you could maybe walk away from a real estate transaction, we really can't walk away from these trade agreements without jeopardizing the economy".

Undeterred by the resignation of his senior economics adviser and pleas from more than 100 Republican lawmakers not to go through with the tariffs, Trump signed into law tariffs of 25 percent on steel and 10 percent on aluminum.

Orrin Hatch, the Utah Republican who chairs the Senate Finance Committee and who has enjoyed a close relationship with Trump, called the president's latest move policy "misguided". Trump plans to campaign for Republican Rick Saccone on Saturday. Congress has willingly handed over that power to the Executive Branch over the past century. Republican leadership could act to reverse that, overturning Trump's decision to impose the tariffs. He has urged Republican lawmakers to stay focused on reminding voters about the tax cuts rather than White House policy surprises and scandals.

Trump also suggested Australia and "other countries" might be spared.

Ryan has been reluctant to criticize Trump, even when the two disagree.

Congressman Paul Gosar is fully supportive.

Economic analysts warn that a trade dispute sparked by the tariffs could damage communities that backed the president in 2016.

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