Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Politics

House Dems threaten to block Trump’s big tariff plans: ‘Unacceptable’

by January 17, 2025
January 17, 2025
House Dems threaten to block Trump’s big tariff plans: ‘Unacceptable’

House Democrats are trying to block President-elect Donald Trump from implementing his wide-ranging tariff plans just days before he is set to take office.

A new bill led by Reps. Suzan DelBene, D-Wash., and Don Beyer, D-Va., and backed by 11 other Democrats, would block Trump from using presidential emergency powers to roll out higher import taxes.

During his campaign, Trump promised to levy a 60% tariff on goods from China and as much as 20% on other countries the U.S. trades with.

He most recently pledged on Truth Social to create an ‘External Revenue Service’ to ‘collect our Tariffs, Duties, and all Revenue that come from Foreign sources.’

Trump and his allies have argued that the plan would bolster American manufacturing while making it more difficult for adversaries like China to ‘export their way out of their current economic malaise,’ as Treasury Secretary nominee Scott Bessent told senators this week.

In theory, the commander in chief is able to bypass Congress to impose sweeping tariffs by declaring an emergency under the International Emergency Economic Powers Act.

However, Democrats argue the cost of the tariffs would just be passed on to American consumers.

‘The American people have clearly and consistently said that the high cost of living is one of their top concerns,’ DelBene said in a statement. ‘Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses.’

Beyer said, ‘Trump’s tariff proposals would misuse emergency authorities to raise prices on the American people, which is unacceptable.’

However, not all Democrats have rejected the plan.

Rep. Jared Golden, D-Maine, a moderate Democrat known to often break from his own party, introduced his own bill this week to impose a universal 10% tariff on all imports.

The 10% level would be reassessed each year, with room for a 5% increase or decrease depending on current U.S. economic conditions.

He argued in a statement to the Maine Morning Star, ‘The universal tariff — along with other policies to support domestic energy production, unions and manufacturing — is designed to reorient our economy from one focused on cheap goods and consumption to one centered on production and innovation.’

Fox News Digital reached out to the Trump transition team for comment on both bills.

Related Topics

House Of Representatives Politics
Trump Transition
Trade
Politics

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Biden is on the way out and Trump is taking the wheel. Welcome back, America
next post
Investors pitch new international basketball league that would offer players equity

You may also like

House Minority Leader Jeffries describes Trump’s address to...

March 5, 2025

Newsom calls Trump’s claims ‘pure fiction’ after president-elect...

January 9, 2025

Trump’s ‘wrong-headed’ effort to lower drug costs amounts...

May 14, 2025

Canada stares down consequences of Trump tariff war:...

April 2, 2025

Dem rep ripped after telling Musk to f—...

February 26, 2025

Meet Pete Hegseth: The ‘recovering neocon’ and Pentagon...

November 15, 2024

RFK Jr. sworn in as Health and Human...

February 14, 2025

DNC union launches GoFundMe to help former staffers...

November 25, 2024

World leaders react to Trump victory ‘on history’s...

November 6, 2024

Harris doubles down on ‘fascist’ comments at start...

October 24, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Former FBI Director Robert Mueller has Parkinson’s disease: report

      September 1, 2025
    • Trump says he will require voter ID with executive order

      August 31, 2025
    • Trump nominees squeezed between ‘blue slips’ and blue obstruction

      August 31, 2025
    • Trump appointee exits US foreign aid agency after four-month sprint: ‘Mission accomplished’

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025

    Categories

    • Business (786)
    • Investing (661)
    • Politics (5,417)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 WhaleLargeCapital.com | All Rights Reserved