Trump and U.S. Congress set to clash over economic costs of tariffs

Bloomberg

Nov 7, 2026

Hakeem Jeffries, the leader of House Democrats, promises to “stop the stupid Trump tariffs jacking up prices on Americans.” Ron Wyden, incoming Senate Finance Committee chairman, says he’ll reassert congressional authority over trade policy. Even Senator Ted Cruz, the Texas Republican, lamented that “tariffs have made everything too expensive.”

But curbing President Donald Trump’s tariff powers won’t be easy or quick, and there’s a risk any efforts to do so in the incoming Democratic-led Congress will spur infighting in both parties.

While the president tempered his policies ahead of Tuesday’s election, he has several potential trade barriers in the pipeline. Trump could announce a new set of duties linked to excess industrial capacity that would hit imports from more than a dozen economies — even before Democrats take control in January.

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