Former Sen. Pat Toomey (R-PA) said Monday on CNN’s “The Lead” that President Donald Trump’s tariff policies have “walked into a buzzsaw.”
Toomey said, “The president has walked into a buzzsaw. It’s very obvious with within the financial markets his tariff proposals have wiped out $7 trillion worth of Americans savings. And what’s coming very rapidly thereafter, it’s actually already begun is going to be layoffs from American manufacturing firms that are no longer competitive because the inputs they have to buy are just being exorbitantly priced because of the tariffs. As they start announcing their layoffs, as prices start to rise for consumers, members of Congress are going to reach a breaking point. And that’s where I think this is heading.”
He added, “He did run on tariffs. That was part of his message. There’s no surprise except the magnitude and the degree. So I’m not surprised that the first instinct of Republican members of Congress is to let him go ahead with this. My point is, there’s going to be a backlash like you can’t believe. I mean, just look at what’s happening in the financial markets. There’s a reason for the sell off that’s been occurring. As businesses start closing their doors and laying off their workers members of Congress are going to realize they better be standing up and fighting this for their constituents.”
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