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WSJ Opinion: Potomac Watch

Where Did the Republican Free-Traders Go?

WSJ Opinion: Potomac Watch

The Wall Street Journal

Society & Culture, News

42.7K Ratings

🗓️ 9 April 2025

⏱️ 24 minutes

🧾️ Download transcript

Summary

Donald Trump's trade wars are roiling global business and financial markets, with China and the EU moving to retaliate. Yet only a handful of Republicans in Congress are pushing back, despite the GOP's past support for an open economy. Plus, the disruption raises pressure on Capitol Hill to pass a tax bill, and listeners write in with questions about the president's tariff strategy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:32.6

From the opinion pages of the Wall Street Journal, this is Potomac Watch.

0:38.3

President Trump's trade war intensifies as he raises duties again on China, with retaliation

0:45.3

coming back from Beijing as well as possibly America's friends in Europe.

0:49.3

Meantime, the shock to the U.S. economy raises pressure on Republicans in the House and Senate to get

0:55.0

moving on that one big, beautiful bill to cut taxes elsewhere. So what's the holdup? Welcome, I'm

1:01.2

Kyle Peterson with the Wall Street Journal. We are joined today by my colleagues on the editorial

1:06.7

page, Barton Swain and Kate Batchelder O'Dell. Trump's reciprocal tariffs on close to 100

1:13.5

countries have now taken effect as of Wednesday morning, with rates ranging up to 104% on China.

1:21.3

That includes an extra 50% Trump added at the last minute as retaliation after Beijing retaliated against the original reciprocal tariffs.

1:31.2

And more retaliation might soon be on the way, China now saying it will put 84% levies on U.S. exports.

1:39.5

The European Union is moving ahead with its own response.

1:42.9

So the journal reports this morning it is going to target

1:45.8

roughly $23 billion of U.S. exports, including chewing gum, motorcycles, and peanut butter. Yet

1:53.9

surveying the prospect of real economic damage, the pushback from other Republicans still

1:59.8

remains pretty mild. Nebraska Congressman Don

2:03.5

Bacon has a bill to pair back presidential unilateral tariff authority. He has two other

2:10.5

Republican co-sponsors, and then he told this to Axios, quote, I have 10 others who want to do it,

...

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