President Donald Trump’s 12th week in office is likely to center around the fallout from last week’s announcement of several new tariffs and a visit by Israeli Prime Minister Benjamin Netanyahu.
“HANG TOUGH,” Trump said on social media Saturday while defending new U.S. tariffs, adding that “it won’t be easy, but the end result will be historic.”
The comments come as much of Trump’s 12th week in office promises to center around the president’s decision last week to announce new tariffs on dozens of countries around the world, a policy he argued will eventually “supercharge” the economy as part of his “economic revolution.”
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But concerns remain about the economic pitfalls of the new tariffs, most notably after the S&P 500 and Nasdaq saw their worst plunge of the decade late last week. Meanwhile, the Dow Jones Industrial Average fell 2,231.07 points, or 5.5%, on Friday, adding to the concern over Trump’s trade policies.
Senate Minority Leader Chuck Schumer called the tariffs a “massive assault on American families” during an appearance on CNN over the weekend, arguing that the policy will only serve to “help the billionaires.”
Nevertheless, Trump appeared ready to double down on his tariff push in the week ahead, vowing the trade plan will be a “win” in the long run.
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“We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN,” Trump wrote Saturday on Truth Social.
Meanwhile, Trump is set to host Netanyahu at the White House on Monday, when the two leaders are likely to discuss not only the 17% tariff the president placed on the longtime U.S. ally but also the ongoing expansion of the Israeli invasion of Gaza.
Trump is also likely to keep a close eye on Congress in the week ahead as GOP lawmakers push forward to advance the president’s multitrillion-dollar spending agenda.
The Senate adopted Trump’s budget blueprint over the weekend, which will now require approval from the House in order to push forward toward the budget reconciliation process. But doubts remain that Trump’s agenda can clear the lower chamber this week, with the GOP holding a slim majority that has strong disagreements among factions of the party.
“The Senate is free to put pen to paper to draft its reconciliation bill, but I can’t support House passage of the Senate changes to our budget resolution until I see the actual spending and deficit reduction plans to enact President Trump’s America First agenda,” Rep. Andy Harris, the House Freedom Caucus chair, wrote on X on Saturday.
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