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Republican lawmakers are asserting that Americans are prepared to accept higher prices as a consequence of Donald Trump’s economic policies, particularly his newly implemented tariffs on China, Mexico, and Canada. Goldman Sachs has estimated these tariffs could raise inflation by 1 percent, potentially squeezing U.S. company profits and risking retaliatory measures from other nations.
This comes as January already saw the largest consumer price increase in nearly 18 months according to Labor Department data. Despite these concerns, GOP representatives remain supportive.
Senator Markwayne Mullin acknowledged tariffs could impact his state of Oklahoma but claimed his constituents are willing to “do what it takes” to prevent other countries from “taking advantage” of America. Similarly, Representative Mark Alford of Missouri stated he’s “all for” paying higher prices to “get America right again” and reduce government debt, expressing confidence his constituents share this view.
