In a stark warning on Friday, Ted Cruz, chairman of the U.S. Senate Commerce Committee and a seasoned Republican from Texas, expressed deep concerns about President Donald Trump's tariff strategy. Cruz highlighted that if nations and regions across the globe retaliate with reciprocal tariffs while Trump's tariffs remain in place, the impact could prove catastrophic for the U.S. economy.
During discussions with one of the "Big Three" U.S. automakers—GM, Ford, or Chrysler—Cruz revealed that these tariffs might lead to an average increase of $4,500 in car prices as early as June, due to delays in the supply chain. The senator warned that such a scenario could mark the most dramatic tax hike experienced in a "long, long time."
Despite being one of President Trump's strongest supporters in the U.S. Senate, Cruz made it clear that he is "not a fan" of tariffs. While he noted that a favorable global response could mitigate some risks, he cautioned that a situation with sustained and massive tariffs on both sides could trigger severe economic consequences, potentially leading to a recession. The economic fallout may not only burden American consumers but also pose serious political challenges, with Cruz predicting a turbulent 2026 midterm election cycle.
Adding complexity to the debate, some Republicans are now considering legislation aimed at enhancing Congress’ authority in approving future tariffs. This move reflects growing concerns among business and tech enthusiasts, thought leaders, and young global citizens, all of whom are keenly watching how trade policies could reshape international markets and influence everyday life.
The discussion around tariffs is particularly relevant for a diverse, globally connected audience that values fresh perspectives on economic policies. By breaking down the potential impacts—from rising auto prices to broader economic instability—this development offers a timely reminder of the intricate balance between protectionist measures and the benefits of open global trade.
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Ted Cruz warns of major risks for U.S. economy due to Trump's tariffs
cgtn.com
