Senator Ted Cruz has cautioned that the Republican Party might suffer major setbacks in the next midterm elections if the tariffs imposed by President Donald Trump harm the economy.
Earlier this week, Trump revealed significant tariffs aimed at most of the United States' trading partners, resulting in the most substantial stock market decline since the COVID-19 pandemic. In response, China introduced a 34% tariff on American goods, with other nations also signaling their intentions to retaliate.
Speaking on his Verdict podcast on X, Cruz, the junior Republican senator from Texas, expressed doubts about the Trump administration’s belief that the tariffs would lead to economic growth. He warned that the tariffs could trigger a global trade war, ultimately damaging jobs and the economy in the US.
“If this situation drags on and plunges the country into a severe recession, the 2026 midterms are likely to be a major defeat for the Republicans,” Cruz said. “The House could swing to the Democrats, and the Senate may follow suit.”
Cruz pointed out that when people face economic struggles, they typically hold the party in power accountable. He voiced his preference for reducing tariffs on foreign goods as a better strategy for fostering economic prosperity, instead of relying on Trump's protectionist measures.
In his defense, Trump reiterated his stance on the tariffs via his Truth Social platform, insisting that his policies would remain unchanged and inviting foreign investors to take advantage of opportunities in the US.
Following the announcement of the tariffs, JPMorgan revised its global recession probability from 40% to 60%. The bank’s chief economist, Bruce Kasman, warned that the tariffs could lead to retaliatory actions, a downturn in business confidence, and further disruptions to supply chains, which could worsen the global economic situation.
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