As the markets fall sharply, President Donald Trump seems to be blissfully unaware of how this will cost the GOP financially during a Tuesday night fundraising dinner, according to a NOTUS report.
"There was an elephant in the room: the roiling unease among some members of his party — and major donors — regarding the tariffs on the eve of their implementation," the article, which holds a double byline for Alex Roarty and Taylor Giorno, noted.
Their sources claimed, "They were aware of one major contributor who temporarily suspended all political giving because of the economic uncertainty related to the tariffs."
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With midterms on the minds of many, Roarty and Giorno noted concerns among the GOP are growing because, "Already this year, House GOP candidates were badly outraised in a pair of special elections, and most party strategists expected — even before the onset of the tariffs — that they would be at a financial disadvantage next November."
The pair went on to pen how the slim majority held by the GOP in the House could dwindle as, "Democrats have already aggressively targeted GOP lawmakers in both legislative bodies ahead of the midterm elections, arguing that Trump’s tariffs will hurt the economy. It’s a point Republican donors have also raised in recent days."
Their sources said, “'It’s a midterm. Fundraising was always going to be tricky,' said one GOP strategist who requested anonymity to speak candidly. 'And now you’re taking that baseline difficulty and compounding it with the tariffs.'”
These concerns of big donors seem to be falling to the wayside amongst the GOP high ranks as, the NOTUS piece claimed, "But the party has little room for error: Republicans hold slim majorities in Congress, especially in the House. The GOP has a more comfortable but still narrow edge in the Senate, where it holds a three-seat majority.
Democrats have already aggressively targeted GOP lawmakers in both legislative bodies ahead of the midterm elections, arguing that Trump’s tariffs will hurt the economy."
However, this funding issue does not seem to phase Trump. The writers noted Trumps has, "showed no signs of backing down from his current strategy. In fact, he teased a new forthcoming tariff targeting the pharmaceutical industry."
