Sen. Rand Paul (R-Ky.) is the latest Republican to break with the party to criticize the Trump administration for the sweeping tariffs it imposed Thursday during the so-called "Liberation Day." Concretely, he is pleading with the president and fellow Republicans to end the tariffs "before it's too late."
The Kentucky Senator took to Fox News to publish an opinion article in which he made the case for why the administration should abandon tariffs and continue building strong relationships with foreign partners.
"If you think eggs are expensive, just wait until the new tariffs hit cars. Goldman Sachs estimates tariffs on imported vehicles could raise prices by $5,000 to $15,000," Paul wrote. "That's because tariffs are taxes on foreign imports that are paid by American consumers. These tariffs apply to almost every conceivable product."
The Senator then argued that tariffs would not only have negative consequences for consumers, but also to his party.
"Tariffs are not just bad for American families and the national economy; tariffs are also bad for Republicans," he wrote in a passage of the article.
"Tariffs have been electoral disasters for Republicans. The McKinley Tariff of 1890 caused such a spike in prices that the Republican Party lost nearly 100 seats in the House and by the end of the next election, the House, Senate, and White House and by the end of the next election, the House, Senate and White House were all in Democratic hands," the Senator continued.
Paul also argued that tariffs will only punish American families, not foreign governments, as the Trump administration has suggested.
"The truth is that tariffs are taxes. They don't punish foreign governments; they punish American families," he wrote. "When we tax imports, we raise the price of everything from groceries to smartphones, washing machines, and every other conceivable product."
The Senator's remarks are a rare move of a Republican lawmaker breaking with the party base, which tends to loyally stand behind President Trump. Paul suggested that instead of enacting such tariffs, his fellow Republicans should support legislation he introduced, called the No Taxation Without Representation Act.
He says the bill reasserts Congress' constitutional authority over taxation and serves as a check on presidential overreach that threatens the economic well-being of every American, from any tariffs that would significantly impact American businesses and consumers.
"The rallying cry of 'No Taxation without Representation' sparked a revolution, and it's just as relevant today," Paul said. "Unchecked executive actions enacting tariffs taxes our citizens, threatens our economy, raises prices for everyday goods and erodes the system of checks and balances that our founders so carefully crafted."
Trump introduced tariffs on Thursday as part of the so-called "liberation day," announcing 10% tariffs on all imports into the United States, and even higher tariffs on goods from about 60 countries or trading blocs that have a high trade deficit with the U.S. That includes China and the European Union, which will be levied new duties of 34% and 20%, respectively.
In response, stocks plummeted Thursday and continue to do so on Friday. "President Trump just finished his tariff speech at the White House and we would characterize this slate of tariffs as 'worse than the worst case scenario' the Street was fearing," said Dan Ives, senior analyst at Wedbush Securities, in a note.
Other members of the GOP are taking concrete steps to address the measures. On Thursday, Sen. Chuck Grassley co-sponsored a bill that would require tariffs to be ratified by Congress within 60 days of their imposition. Should that not happen, they would expire.
Moreover, Paul, along with three other GOP senators, defied Trump and voted along Democratic senators to repeal tariffs levied against Canada.
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