Billionaire brothers take aim at Trump’s tariffs
Deep pockets will put pressure on Republicans
Canada has powerful new allies in the fight against President Donald Trump’s punishing tariffs: a pair of ultrarich Republican financiers.
The billionaire Koch brothers, Charles and David, want trade to flow freely — something that makes them loathe tariffs.
The Koch brothers’ political network is launching a multimillion-dollar campaign to knock down the billions of dollars in tariffs the Trump administration is moving to impose on imports.
The push threatens to reorder the debate around the president’s trade agenda.
Republican lawmakers seeking re-election have been largely reluctant to challenge the president. The Koch network is offering an incentive, demanding candidates fight for free trade to win its backing.
The network’s co-chair said the group will continue to expand despite the retirement of one of its founders. David Koch, 76, announced Tuesday he is stepping down for health reasons.
The campaign represents a threat to Trump’s presidency. Whether a mortal or serious one is yet to be seen, said Ian Lee, a professor at Carleton University’s Sprott School of Business.
“This family has a lot of money, and they’re willing to spend it by supporting candidates who are going to support the pro-growth, profree trade, pro reductions in tariffs agenda.”
“I really don’t care who is doing the opposing — I know this family has a bad brand in the United States — but you take your help where you find it,” Lee said.
“If they are going to be the instrument that’s going to organize opposition to Trump’s absurd ideas on trade well, so be it.”