House Speaker Mike Johnson, R-La., said Monday the House will give President Donald Trump “the runway to do what it is he was elected to do,” doubling down on his previous comments that the House will support Trump on tariffs and not get involved in the escalating trade war—despite the economic situation in the U.S. markets worsening.
presidential candidate Donald Trump listens as Speaker of the House Mike Johnson (R-LA) speaks ... More
When CNN’s Manu Raju asked Johnson about potential legislation that would “give Congress a say” to review tariffs, Johnson said: “Congress will weigh in on it, but … I think you've got to give the president the latitude, the runway to do what it is he was elected to do, and that is get this economy going again.”
Johnson’s support for Trump’s tariff authority comes after fellow Rep. Don Bacon, R-Neb., said he was planning to introduce legislation in the House on Monday similar to what has been introduced in the Senate that would restrict Trump’s tariffs.
It’s not clear how much Republican support Bacon’s bill will have in the House, which is led by Johnson who has stood by Trump’s policies, though he told CBS’ “Face the Nation” on Sunday he had “beginning support.”
On Sunday, Johnson reportedly told his colleagues to “hold the line” on the tariffs and not oppose them, saying they should trust Trump and give the tariffs “time” to play out.
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“We had a $1.2 trillion trade deficit in 2024,” Johnson said. “I don’t think that’s fair to our country, I think the American people understand that, and I think they see a president who is engaging in trying to fix that, so we’re going to give him the space necessary to do it.”
The legislation from Bacon to be introduced. It had not yet been brought up as of 3 p.m. EDT on Monday.
Last Wednesday, Trump held a press conference at which he announced base tariffs of 10% and reciprocal tariffs up to 50% on more than 180 countries in an effort to fulfill a longtime promise to improve U.S. manufacturing and punish other countries for what he considers unfair trade practices. Over the weekend, on social media, Trump said the tariffs have led to “an economic revolution” and added: “it won’t be easy, but the end result will be historic.” Economists, on the other hand, warned Trump’s tariff policies could lead to higher prices for consumers and a recession. Since Trump announced his tariff plan, stocks have plunged globally, wiping out trillions of dollars in equity. Economists at the world’s largest banks, including Goldman Sachs and JPMorgan, suggested the odds for a recession have increased significantly.
Earlier on Monday, the Trump administration reportedly said the president would veto a similar bill brought in the Senate by Sens. Maria Cantwell, D-Wash., and Chuck Grassley, R-Iowa, if it passes. Their bill was introduced Thursday and would require Trump to notify Congress before enacting new tariffs and it would require congressional approval of the policy within 60 days. Seven Republican senators are co-sponsoring the Senate bill.
Trump’s Tariffs Face Growing Republican Backlash: ‘Last Thing We Need’ (Forbes)
Forbes Recession Tracker: Goldman, JPMorgan Say Recession Incoming If Trump Doesn’t Blink On Tariffs (Forbes)