Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

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

by January 17, 2025
January 17, 2025

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 PoliticsTrump TransitionTradePolitics

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Trump, China’s Xi speak on phone ahead of inauguration
next post
Supreme Court upholds looming TikTok ban

You may also like

House Dems open investigation into Trump’s acceptance of...

May 15, 2025

Paul Pelosi attack: DePape told police he intended...

January 28, 2023

Harris’ momentum a reflection of Democrat ‘relief’ replacing...

July 29, 2024

Trump, Putin agree to begin ceasefire negotiations in...

March 19, 2025

Leo Hohmann: Biden Delivers Ominous Warning from His...

November 5, 2022

America First Policy Institute rolls out abortion, life...

April 12, 2024

Democrat congressman melts down, claims DOJ, FBI, IRS...

July 20, 2023

Top 5 moments from only VP debate between...

October 2, 2024

Devon Archer torpedoes Biden camp’s defense of controversial...

August 4, 2023

Judge Cannon Rules in Favor of Trump, Rejects...

September 29, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

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

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.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 futureretirementsuccess.com | All Rights Reserved