Sen. Ron Wyden (Ore.), the top Democrat on the Senate Finance Committee, announced on Tuesday that he’s introducing a resolution to thwart President Trump’s latest tariffs actions.
Wyden said during a hearing Tuesday morning that he’s "proposing a new bipartisan privileged resolution to end the latest crop of global tariffs that are clobbering American families and small businesses.”
“Members on both sides of the aisle ought to know that this is a call to action, and Congress must step in to reign this president on trade,” he added.
The Hill has reached out to Wyden’s office for more information.
The measure comes as members on both sides of the aisle have shown support for checking the president’s trade authority in light of Trump’s recent tariffs on nearly all foreign trading partners and amid rising recession fears.
Goldman Sachs analysts warned in a new report on Sunday that it increased the probability of a recession in the U.S. to 45 percent, just a week after it forecasted odds at 35 percent as fears rise of an impending trade war.
Stock markets have also taken blows in the U.S. and abroad.
In defending his latest tariffs, Trump argued that the U.S. has been taken advantage of by other countries for years on trade.
“When you look at the trade deficit we have with certain countries, with China it’s a trillion dollars,” Trump said over the weekend.
“We have to solve our trade deficit with China. … Hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I’m not going to make a deal,” he continued, adding, “this is not sustainable.”
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