China Tariffs Could Wreck Republicans in November
President Trump may insist—as he did on Twitter Wednesday morning—“We are not in a trade war with China,” but the $50 billion in tariffs his administration proposes putting on Chinese goods has already spooked markets, with a broad sell-off hitting U.S. stocks. The damage could also extend to the U.S. midterm elections.
China on Wednesday said it would issue 25 percent retaliatory levies on roughly $50 billion of U.S. imports, including soybeans, cars, chemicals and aircraft. These levies appear to be targeted at states, particularly in the Midwest, where Trump’s support is strongest. But, crucially, many of these states also have pivotal Senate and gubernatorial races in November. The economic blow from new tariffs could upend many of these races, potentially shifting control of statehouses and the U.S. Senate to Democrats.