Sen. Ted Cruz (R., Texas) said that he hopes President Trump's tariffs work as leverage to get other countries to quickly lower trade barriers, which could spark an economic boom. But he sees big risks for jobs and inflation.

One of the president’s allies warns that the trade barriers could hurt American business and consumers. But he has yet to take any real steps to reverse them.

Senator Ted Cruz, usually a staunch supporter of President Donald Trump, sounded the alarm on the administration’s move to ramp up tariffs, saying they pose “enormous risks” to the US economy and make Republicans vulnerable to a “bloodbath” in next year’s midterm elections.