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US media: Trump's tariffs scare Wall Street, some donors woo Republican lawmakers to advise the president

US media: Trump's tariffs scare Wall Street, some donors woo Republican lawmakers to advise the president

CointimeCointime2025/04/08 02:55
By:Cointime

Republican lawmakers admit they are feeling the pressure of Trump's tariffs, and so are their Wall Street sponsors. Previously, a senator proposed a bill to limit the president's ability to impose tariffs, but Trump made it clear that he will not tolerate any restrictions on his relevant abilities. However, some uneasy Republican donors hope that lawmakers can help persuade the president that tariffs are destroying the economy. Although lawmakers refused to disclose the specific donors' conversations, their level of concern is high after three days of stock market turmoil. At the same time, some Republican senators have come forward to publicly criticize Trump's tariffs, insisting that this is a tax on American consumers. 

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