Utah Sen. Mike Lee and Rep. Blake Moore expressed relief at President Trump’s decision to pause tariffs on most countries for 90 days. Lee, who had previously urged Trump to use tariffs as leverage in trade negotiations, approved of the move and highlighted the potential for freer trade. Moore shared concerns from constituents about how the tariffs could impact local businesses and raise prices. Both lawmakers, along with other Republicans in Congress, welcomed the news of a 10% global levy replacing the previous massive tariffs.
U.S. Trade Representative Jamieson Greer defended the tariffs to a House committee, including Moore, who emphasized the anxiety felt by business owners due to the trade war. Despite concerns, Moore remains supportive of targeted tariffs on adversaries in strategic sectors. The announcement of the tariff pause led to a positive response on Wall Street, easing investor uncertainty. Chief economist Phil Dean highlighted the importance of clarity for investors and the potential positive impact of the 90-day pause on the economy.
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