Republicans Turn on Trump as Tariffs Wreak Havoc on Economy and Stock Market
Republican lawmakers are increasingly breaking ranks with President Trump as his escalating trade war sends shockwaves through the economy and drives the stock market into turmoil. What began as quiet concerns about tariffs has now turned into outright frustration, as business owners, farmers, and investors feel the impact of Trump’s unpredictable trade policies.
GOP lawmakers say they are hearing from constituents who are struggling to adapt to Trump’s erratic tariff policies, particularly his recent threats to impose steep duties on imports from Canada, Mexico, and Europe. The uncertainty is stalling business investment, slowing job growth, and rattling the stock market, fueling fears that the U.S. could be headed for a full-blown recession.
Economic Fallout Hits Home
Republican Sen. Susan Collins (Maine) is among those warning that Trump’s tariffs are already causing serious damage.
“The Canadian tariffs will definitely have a detrimental impact on the economy of Maine and on border communities in particular,” Collins said. “We have a major paper mill in northern Maine that gets its pulp from Canada. The imposition of a 25-percent tariff could be devastating.”
The mill, which employs over 500 people, is just one example of how Trump’s trade war is harming American businesses instead of protecting them. Other industries, including agriculture and manufacturing, have also taken severe hits, leading to a sharp decline in confidence among business owners.
Trump announced Thursday that he would pause the 25-percent tariffs on Canada and Mexico until April 2, but Collins warned that even the uncertainty surrounding the policy is damaging.
“I think it freezes investment until they know exactly what the impact is going to be. So I understand the president’s desire to level the playing field, but Canada’s just not the problem in Maine,” she said. “We depend on cross-border trade for key industries like wood products, blueberries, lobsters, and potatoes.”
Stock Market in Freefall, Investors Panic
While Trump insists his tariffs are necessary, investors are growing increasingly nervous. The stock market has experienced wild swings, with major indexes plummeting as fears of economic instability rise.
Wall Street analysts warn that if Trump follows through on his tariff threats, markets could sink into bear territory, wiping out retirement savings and investments for millions of Americans.
Republican Allies Turn Against Trump
As the economic damage mounts, more Republicans are openly turning on Trump, fearing that his trade policies could cost them in the upcoming elections.
A senior GOP strategist admitted that Trump’s unpredictable leadership on tariffs is eroding confidence within his own party.
“This was supposed to be a pro-business, pro-growth administration. Instead, we’re watching him destroy the economy,” the strategist said. “Republicans are running out of patience.”
With markets in turmoil, businesses suffering, and Republicans growing restless, Trump faces a reckoning—either reverse course or risk losing support from his own party as the economic pain worsens.