A coalition of business lobbies, which include Facebook and Ford, are working to prevent President Trump from enacting tariffs without approval from Congress, Markets Insider reports.
The “Tariff Reform Coalition” was assembled by the The National Foreign Trade Council and is tasked with reviewing “Presidential use of tariff authority” and will represent American businesses that have been hurt by Trump’s tariffs.
A letter from NFTC President Rufus Yerxa to Senators Chuck Grassley (R-IA), Ron Wyden (D-OR), and Reps Richard Neal (D-MA) and Kevin Brady (R-TX), stated that not since the 1930s “has our country relied so heavily on tariffs in an attempt to pick winners in the US market while overlooking the broader consequences for other industries and our economy as a whole.”
“The Constitution explicitly gives Congress the power to regulate commerce,” the letter continued. “We believe it is time for Congress to reassert its authority to ensure that tariffs are only used in limited circumstances and only where there is broad consensus between the two branches that such exceptional action is in our overall national interest.”
According to the American Action Forum, the president’s tariffs, including retaliations against them, threaten $660 billion of traded products every year.
“These tariffs mean a reduction in consumers’ real purchasing power,” economics professor Katheryn Russ told CNBC. “So, the amount of stuff you can buy with a given amount of money, say $100, is going to be a little bit less.”
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‘Not true’: Fox News calls out Trump for lying about keeping US soldiers out of harm’s way
As the U.S. military grapples with the logistics of a quick withdrawal from the northern part of Syria, President Donald Trump drew criticism for abandoning the Kurds and endangering U.S. troops. There are also reports that the army's departure has resulted in members of ISIS escaping from prison.
On Wednesday, Trump defended his decision, insisting that U.S. soldiers were not in danger. "Our soldiers are not in harm's way," he said. “That has nothing to do with us,” he added, about the conflict between Turkey and the Kurds at the Turkish-Syrian border.
But top military officials told Fox News that this was not true. "Not true, according to top US military commanders who tell Fox this is a complicated, deliberate phased withdrawal with a lot of inherent risk," Jennifer Griffin, National Security correspondent for Fox News, wrote on Twitter. "Already US warplanes had to warn approaching foreign troops with a show of force."
‘Worse than Obama’: Lindsey Graham has full-blown freak out over Trump’s latest Syria statements
Sen. Lindsey Graham (R-SC) on Wednesday had a full-blown freak out after President Donald Trump publicly said that the Turkish slaughter of the Kurds in northern Syria was not America's problem.
Writing on Twitter, the senator had his harshest condemnation yet of the president's decision to abruptly pull American troops out of Syria while giving Turkey a green light to invade the area.
"I hope President Trump is right in his belief that Turkeys invasion of Syria is of no concern to us, abandoning the Kurds won’t come back to haunt us, ISIS won’t reemerge, and Iran will not fill the vacuum created by this decision," Graham wrote. "However, I firmly believe that if President Trump continues to make such statements this will be a disaster worse than President Obama’s decision to leave Iraq."
Trump spirals into deranged conspiracy theory when asked about Giuliani: ‘I want to see the server’
President Donald Trump on Wednesday blurted out a nearly incomprehensible conspiracy theory about the 2016 election.
During an Oval Office meeting with Italian President Sergio Mattarella, reporters asked Trump if he expected former National Security Adviser John Bolton to testify to the House impeachment inquiry.
Trump sidestepped the question and launched into a rant about "corruption" in the 2016 election.
"Giuliani was seeking out corruption in the 2016 election," the president said. "There was tremendous corruption in that 2016 election. It was disgraceful what happened and what happened to me and what happened to the Republicans."