(NewsNation) — Lawmakers from both parties on Capitol Hill are voicing growing concern as President Donald Trump’s tariffs wreak havoc on Wall Street and threaten to raise prices.
In the Senate and House of Representatives, there is bipartisan legislation that would take back Congress’ power to impose and stop tariffs. While they have support, the question now is whether Republican leadership, either House Speaker Mike Johnson or Senate Majority Leader John Thune, are willing to put those bills on the floor.
Some Republicans speaking to NewsNation on Monday morning think the tariffs are meant to be more permanent as Trump wants to reshape the global order and trade in a way that might benefit American manufacturing.
Another group of Republicans believes tariffs will go away quickly. These GOP lawmakers say they’re negotiating tactics to refigure the United States’ relationship with certain countries.
During a press conference with Israeli Prime Minister Benjamin Netanyahu on Monday, Trump said both of these ideas can be true.
“There can be permanent tariffs and there can also be negotiations,” Trump said.
GOP Rep. Tim Walberg of Michigan told NewsNation he’s hearing concerns from his constituents about their 401ks, the stock market, and the economy generally. But some of his Republican supporters do give President Trump a bit of deference.
“They saw what took place in the President’s first term,” Wahlberg said. “I think that’s what’s giving them a great belief that while there will be some disruption, in the end, it works out better.”
Two senators, Ron Johnson of Wisconsin and Mike Lee of Utah, both Republicans, say they would be in support of a zero-for-zero tariff with the United States.
On the Democratic side, there is serious anxiety, with a lot of them pushing hard to try to get Republicans on board for the bills that would allow Congress to approve a tariff coming from the White House.
All Democrats on the Senate Banking Committee sent a letter to the chairman, Republican Sen. Tim Scott, demanding the group hold at least one hearing on the impacts of the tariff rollout.
The letter also questions the White House’s legal ability to implement tariffs through the emergency law the administration invoked.
The Associated Press contributed to this report.