Trump announces sweeping new import tariffs that spark backlash from Republicans and cause economic panic across the United States

What started as a bold declaration of economic independence is quickly turning into one of the most controversial moments of Donald Trump’s second term.

His newly announced sweeping tariffs on imported goods are drawing fierce backlash — not just from Democrats, but now from within his own Republican base.

Trump Unveils Broad Tariff Plan With Big Promises

On Wednesday, President Trump announced a new policy that places a 10% tariff on all imported goods, with even steeper rates targeting countries that impose higher duties on American products.

For example, goods from China will now face a staggering 34% tariff, while the European Union will see 20%.

Trump described the move as a way to reclaim control over the American economy, using fiery language to accuse other nations of decades of economic exploitation.

“Our country has been looted, pillaged, raped, and plundered,” he declared during a speech in the White House Rose Garden.

He vowed that these measures would bring back American factory jobs and stop “foreign cheaters” from taking advantage of the U.S.

But the Markets Aren’t Buying It

The immediate impact? Wall Street plunged into chaos. In just two days, the U.S. stock market lost $5 trillion in value, and since mid-January, the total losses have reached $9.6 trillion, according to Dow Jones data.

The Dow Jones index alone dropped a jaw-dropping 2,200 points, marking its worst day since June 2020.

Many fear this could trigger a global recession. China has already hit back with retaliatory tariffs on all U.S. imports, escalating a growing trade war.

Financial experts are urging everyday investors not to panic and to consult with advisors before making any big moves with their retirement funds.

Conservative Allies Break Ranks

While Democrats were quick to denounce the tariff policy, the bigger shock came from Trump’s own camp. Some of his most vocal supporters are now openly criticizing the decision — and how it was rolled out.

Conservative commentator Ben Shapiro called the tariffs “probably unconstitutional” and slammed the rollout as chaotic and poorly planned.

“This is one of the biggest tax increases on American consumers in history,” he warned.

On the All In podcast, he compared the strategy to “a pile of rakes” that Trump is blindly stepping on.

Ted Cruz Sounds the Alarm on Potential Fallout

Senator Ted Cruz, who once branded himself as Trump’s “strongest supporter in the Senate,” also voiced serious concerns.

On his own podcast, he said he’s never been a fan of tariffs and warned that blindly supporting Trump just for party loyalty could be dangerous.

“If this leads to a full-blown trade war, with every country slapping tariffs on American goods, the economic consequences could be brutal,” Cruz said.

He added that if things spiral into a recession, Republicans could be heading toward a “political bloodbath” in the 2026 midterms.

Trump Clashes with Republican Senators Over Opposition

Ahead of the announcement, Trump lashed out on social media at four Republican senators — Mitch McConnell, Rand Paul, Susan Collins, and Lisa Murkowski — for opposing the plan.

He accused them of betraying the party and suggested they were enabling drug smuggling into the country by standing against his tariff agenda.

He didn’t explicitly call them “RINOs” (Republicans in Name Only), but the message was clear: fall in line, or face political retribution.

Trump urged voters in their states to pressure them into supporting the tariffs, particularly those aimed at Canada.

Senate Pushback Begins to Build

Despite Trump’s warnings, the four senators voted in favor of a Democrat-led bill spearheaded by Senator Tim Kaine to undo the tariffs.

The bill would need 60 votes in the Senate to override a presidential veto — a tough hurdle, but a clear sign of growing resistance.

The Stakes Are Sky-High

The White House insists that these tariffs will bring back jobs and rebalance global trade, but critics say the plan is already hurting the American economy — and fast.

With prices expected to rise on everything from clothes to cars, and the stock market in free fall, it’s ordinary Americans who could end up paying the price.

For now, Trump remains defiant, doubling down on the tariffs and brushing off concerns from Wall Street and Capitol Hill alike.

But with even longtime allies questioning the strategy, the political fallout could be just as severe as the economic one.