Republicans are responding to President Donald Trump‘s sudden decision to pause most reciprocal tariffs just hours after they took effect Wednesday, marking the latest development in his ever-changing trade policy.

Why It Matters

A growing number of House and Senate Republicans have criticized President Donald Trump’s trade policies and the unilateral manner in which they were enacted. Republican lawmakers in both chambers have introduced legislation aimed at curbing the president’s authority to impose tariffs.

Since Trump announced a series of sweeping global tariffs in early April, including a baseline 10 percent on all imported goods and the widely anticipated “reciprocal” tariffs, the stock markets have experienced instability, with Wall Street posting its worst losses since 2020 and trillions of dollars in value erased.

Dozens of “reciprocal” tariffs took effect early Wednesday, but by the afternoon, President Donald Trump announced a pause on most of them. Since then, the stock market has surged.

Trump Puts 90-Day Pause on Tariffs: What We Know

In a post on Truth Social around 1:20 p.m. ET, Trump announced, “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”

He shared that more than 75 countries have reportedly been negotiating with various U.S. departments on trade matters and did not, like China, slap on retaliatory tariffs. China responded to Trump’s tariffs by announcing 84 percent tariffs on U.S. imports.

Trump said in the post: “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately.”

Trump told reporters at the White House that his tariff reversal was because people were “getting a little bit yippy” and “queasy” over days of market turmoil.

He added, “No other president would have done what I did…and it had to be done,” he added. “But somebody had to do it…because it was not sustainable.”

The president has emphasized his business background, with many allies referring to this move as a key negotiation tactic, and in reference to a 1987 book about him titled, Trump: The Art of the Deal.

How Have Republicans Responded?

Senator Ted Cruz, a Texas Republican, wrote in an X, formerly Twitter, post on Wednesday: “I urged President Trump to focus on two things: Focus on China. Focus on reciprocity. He did, and today’s announcement is terrific news.”

Bill Ackman, Trump supporter and CEO of hedge fund management company Pershing Square Capital Management, on X: “This was brilliantly executed by @realDonaldTrump. Textbook, Art of the Deal.“ In a second post shortly after he wrote, “The benefit of @realDonaldTrump’s approach is that we now understand who are our preferred trading partners, and who the problems are. China has shown themselves to be a bad actor. Our counterparties also have a taste of what life is like if they don’t take down their trade barriers. This is the perfect setup for trade negotiations over the next 90 days.”

The Lincoln Project, the Republican but anti-Trump group, posted on X: “Seeing an awful lot of people on here confusing ‘caves on tariffs because of market meltdown’ with ‘brilliant negotiator.'”

Laura Loomer, a conservative activist close to Trump, wrote on X: “Never bet against President Trump!”

Former Vice President Mike Pence said on X: “I am grateful that President Trump has committed to embracing a pause on many of the broad-based tariffs that were imposed on our trading partners around the world. When America trades with allies, it’s a win for the American people. Our goal should be free trade with free nations. I also strongly support the efforts by the Trump Administration to bring China to the table after years of trade abuses and intellectual property theft. It’s time we recognize China is the greatest national and economic security threat of our time.”

House Speaker Mike Johnson said on X Wednesday: “Behold the ‘Art of the Deal.’ President Trump has created leverage, brought MANY countries to the table, and will deliver for American workers, American manufacturers, and America’s future!”

Kentucky Senator Rand Paul told Punchbowl News: “I hope there’s a lesson learned. When you add a bunch of tariffs, you’ll lose six trillion in the marketplace. When you get rid of the tariffs, guess what, it comes bounding back.”

Commerce Secretary Howard Lutnick, on X: “[Treasury Secretary] Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency. The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction.”

White House press secretary Karoline Leavitt told reporters on Wednesday: “Many of you in the media have clearly missed the art of the deal.”

How has the stock market responded?

The stock market jumped following Trump’s announcement of a tariff pause. The S&P 500 went up 9.5 percent, The Dow Jones Industrial Average jumped 2,721 points, or 7.23 percent, while the tech-heavy Nasdaq Composite Index soared more than 11 percent.

What Happens Next?

Most reciprocal tariffs will be paused until July 8, while new ones have been levied on China.

While the Trump administration maintains the pause was a strategic decision, some Democrats and economists argue that the move was Trump caving to the markets, such as Senate Minority Leader Chuck Schumer, who posted on X: “TRUMP RETREATS ON TARIFFS BECAUSE OF TRUMP SLUMP.”