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Trump’s tariffs under threat: markets, businesses, and Senate push back
The administration overestimated the economy’s resilience — tariffs could be repealed within a month.
The new import tariffs introduced by Donald Trump’s administration may not last even a month. According to Financial Times, pressure on the White House is mounting from all sides — consumers, businesses, and even Trump’s own party and Senate allies.
Analysts predict the tariffs will inevitably lead to price increases, reduced consumer spending, and economic slowdown. Consumer sentiment is already worsening, and the disruption of global supply chains could further deepen the crisis.
Everyday goods will be hit hardest. For example, the iPhone 16 Pro Max may rise in price from $1,599 to $2,300. Import goods account for up to 30% of U.S. household expenses — including clothing and electronics — and most will be affected. Estimates suggest around two-thirds of companies plan to pass the new costs onto consumers.
The business sector is reacting strongly: over 280,000 layoffs were announced in just two months under the “efficiency reform.” Major firms are cutting investments and pausing hiring. The markets responded sharply: the S&P 500 index saw its worst performance in three years, and Apple shares experienced record daily value loss.
In addition to domestic pressure, the European Union is preparing retaliatory tariffs targeting key sectors in Republican states — soy in Louisiana, beef in Kansas, and agricultural exports from Alabama — creating a political liability for Trump ahead of elections.
A revolt is forming in the Senate: a resolution against tariffs on Canada has passed with Republican support. Trump’s backing among moderate voters is dropping, especially amid high inflation and growing national debt.
According to Allianz forecasts, even if tariffs last through the end of the year, the administration will be forced to make significant concessions. Otherwise, growing internal opposition could lead to serious political consequences — even impeachment.
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