https://finance.yahoo.com/news/4-republicans-back-senate-resolution-183134103.html

4 Republicans back Senate resolution to undo Trump's tariffs around the globe

WASHINGTON (AP) — The Senate passed a resolution Thursday that would undo many of President Donald Trump's tariffs around the globe, the latest note of displeasure at his trade tactics in Washington that came just as the president celebrated his negotiations with China as a success.

But back in Washington, senators — several from Trump's Republican Party — have demonstrated their dissent with Trump's tariff tactics by passing a series of resolutions this week that would nullify the national emergencies that Trump has declared to justify the import taxes. Already this week, the Senate approved resolutions to end tariffs imposed on Brazil and Canada. While the legislative efforts are ultimately doomed, they exposed fault lines in the GOP.

Trump is completely upending the apple cart with his tariffs.

 

Just because some people don't like it, it doesn't mean it's bad. This doesn't prove anything. 

 

 

 

One word.  Lucrative 

 

 

Social Security Warning Issued by Solicitor General

 

updated Aug 13, 2025

 

The Department of Justice has warned that overturning tariffs imposed under the 1977 International Emergency Economic Powers Act (IEEPA) would risk a "1929-style" crisis that could endanger the country's social welfare programs.

 

"In such a scenario, people would be forced from their homes, millions of jobs would be eliminated, hard-working Americans would lose their savings, and even Social Security and Medicare could be threatened," wrote the U.S. Solicitor General D. John Sauer, in a letter submitted to the U.S. Court of Appeals for the Federal Circuit on Monday.

 

However, Sauer and Assistant Attorney General Brett Shumate said: "The President believes that our country would not be able to pay back the trillions of dollars that other countries have already committed to pay, which could lead to financial ruin."

 

https://www.newsweek.com/social-security-warning-solicitor-general-tariffs-2112207

 

NB Other than that ...

There's a "big picture" thing here which doesn't get mentioned much.

 

Being the 'buyer of last resort' in the world is what has allowed the US to both hold its position as having the world's reserve currency as well as live above its means, running up a massive Federal Deficit.

 

The tariff nonsense, even if ultimately none remain (as Trump earns his TACO epithet) is prompting other nations to move away from the USD.

 

The Fed has a tough enough time trying to control both interest rates and inflation. As the USD loses its reserve status, Trump could name David Copperfield as Fed Chair, and even he wouldn't be able to pull a rabbit out of his hat. Foreigners still fund upwards of 30% of US Government debt.

 

Pick your poison.....high rates? Huge inflation? Fiscal discipline imposed the hard way, leading to a huge Recession?

 

Then there's the 19th Century "logic" that high tariffs will encourage business to get behind the tariffs by producing domestically (something against which David Ricardo argued). Besides the fact production does not happen in an afternoon, as even garment factories take time to plan and construct, the production of the entire species is moving away from human labor. Jobs that were "offshored" were just in a temporary way station on the path to oblivion. This is only going to get worse as AI takes hold and obviates tens of millions more jobs.

 

The decline of the US' position in the world was inevitable, as it's happened to every major nation at some point. Trump is just accelerating the US' decline. If the US is lucky, it might just become a has-been like the UK, a nation in a long slow decline into irrelevance. If unlucky.....Venezuela or Argentina.

4 hours ago, save the frogs said:

Trump is completely upending the apple cart with his tariffs.

 

Just because some people don't like it, it doesn't mean it's bad. This doesn't prove anything. 

 

 

 

Trump is effectively destroying the established global trading system. There is of course a debate to be had as to whether it is an ideal system; but it has in the last 60 years or so lifted much of the worlds population out of utter abject poverty.

 

He proposes no scheme, no plan, not even a concept of a plan, to replace it. A few people will become rich from his antics, countless more, both within the US and across the world will become poorer.

 

At the least it makes a mockery of any claim he or his supporters may make to be conservatives!

 

I love the cries of the Losers.