Arizona lawmakers talk tariffs, U.S. economy and American livelihoods
President Donald Trump's tariffs have been a topic front and center for many Americans lately.
His polarizing economic move received both criticism and support. We're breaking down both sides so you can decide for yourself what you think.
What we know:
On Monday, the S&P 500 zipped back up again after the U.S. and China agreed to slash their respective tariffs for the next 90 days.
It’s the latest in one of the president’s most controversial economic policies.
U.S. Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.
Early Monday, Greer said the U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.
For months, the Trump administration has touted the tough pro-tariff stance as a means of fairness, arguing it will bring back American manufacturing and add jobs.
US-China trade deal: Countries agree to slash tariffs, enact 90-day pause
U.S. and Chinese officials say they have reached a deal to slash most of their recent tariffs and called for a 90-day pause for ongoing negotiations. Here's what to know.
What they're saying:
American manufacturing and more jobs are goals that Arizona representatives underscored in complete confidence and agreement while sitting on a panel for the Arizona Chamber of Commerce’s update from Capitol Hill on May 12.
"President Trump knows what he's doing, and I'm here to support it," Rep. Abe Hamadeh said.
Not every Republican is on board though.
In a party traditionally known for celebrating free markets, some business leaders, like the chamber’s Danny Seiden, once deputy chief of staff for former Republican Arizona Governor Doug Ducey, says the move is terrible.
He argues it will be consumers, not other countries, who will pay the price.
"We pay a tariff. There is no tariff on China, there's no tariff on Vietnam. There is a tariff on the American people when they import goods and when they make things," Seiden said.
It's a perspective Democratic Senator Ruben Gallego shares. He’s heard constituents' stories of smaller tips and harder to make bills.
He fears the tariffs will continue to slow the economy down into a recession.
"Recessions hurt families. Recession means unemployment, it means lower wages, it means growing deficits. All these things we are trying to avoid, all because of a self-inflicted wound that did not have to happen," Sen. Gallego said.
Republican Rep. Andy Biggs, also on the panel, shared his evolution on the issue.
Once anti-tariff, he says his mind was changed seeing what he sees as unfairness while doing international work.
"If somebody was cheating on you, you had a hard time getting the proper reparations, retribution, restitution," Rep. Biggs said.
What's next:
After May 12's tariff announcement, Trump posted on Truth Social that "great progress" was being made and that he hopes for a total reset of tariffs to ease the worries of the global economy.