Texas lawmakers in Congress weigh in on Trump's paused tariffs
It was another wild week in the financial markets regarding President Trump's tariffs.
Last week, President Donald Trump suddenly pressed the pause button. The markets jumped, then retreated Thursday, only to bounce back Friday.
Currently, three main tariffs are in place: A 145% tariff on all products made in China, a 25% tariff on imported autos, aluminum, steel, and products from Mexico and Canada not included in the United States-Mexico-Canada Agreement. Trump's decision to pause many of his tariffs and trade policies in general has sparked a lot of comments and controversy.
U.S. Sen. John Cornyn, a Texas Republican, praised the President's actions.
"He's got everybody's attention, and all these countries are coming to the table to negotiate. Ultimately, I think the goal should be zero tariffs, especially between friends and allies," Cornyn said. "I think the enhanced tariffs against China were entirely warranted. I am glad there will be a 90-day pause so those can be worked out."
Rep. Jasmine Crockett, a Dallas Democrat, spoke with CBS News Chief Washington Correspondent Major Garrett on CBS News 24/7 America Decides, criticizing the President's trade policy.
"We are clearly on a rollercoaster, and it's not just those of us in the United States. It's our friends and enemies, and obviously, it is also the markets. I can't keep up with which way he is going when it comes to his strategy for the tariffs," Crockett said. "I hope we can get things on track. I hope that in a bipartisan way we can rein in this rogue wanna-be king."
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