President Trump on Tuesday patted himself on the back for imposing tariffs on other nations that have "treated the United States unfairly on trade," saying on Twitter that they should have been put in place many years ago.
"Tariffs are the greatest!" he wrote in a tweet. "Remember, we are the 'piggy bank' that's being robbed. All will be great!" Despite criticism from GOP lawmakers, Trump has threatened China with hundreds of billions of dollars in tariffs, and has also added some European imports to the list.
He is also threatening this week to impose tariffs on cars imported from the European Union, but those within his administration are reportedly against the move. Additionally, some critics have pointed out that some of the tariffs have hurt American farmers, whose profits have been slashed by retaliatory tariffs on soybeans and pork. "There is not a lot of support for the auto tariffs internally," one senior official told Politico. "There are many people who don't want to see it go through."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Should you add your child to your credit card?The Explainer You can make them an authorized user on your account in order to help them build credit
-
Cracker Barrel crackup: How the culture wars are upending corporate brandingIn the Spotlight Is it 'woke' to leave nostalgia behind?
-
'It's hard to discern what it actually means'Instant Opinion Opinion, comment and editorials of the day
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
