Tariffs are back — and they couldn’t come at a worse time for the GOP.
Some Republicans fear the eye-popping new levies President Donald Trump threatened to slap on Canada and generic drugmakers this week will aggravate Americans who were already blaming the tariffs for stubborn inflation ahead of a midterm election dominated by economic issues.
The president has long brandished tariffs as a cudgel in negotiations and some industry insiders see the promise of a future 50 percent tariff on $20 billion of Canadian goods and 100 percent levies on generic drugs as the latest example of a well-worn tactic. The administration is hoping to get Canada to re-negotiate a trade pact and pharmaceutical companies to reshore manufacturing.
But the president’s allies fear that nuance will be lost on voters and argue the new tariffs — which could raise the prices of popular goods like alcohol and bacon, and the heart pills necessary to mitigate their effects — threaten to undercut the long list of victories Republicans would rather be touting.
