The president's trade policies are wreaking havoc on the American auto industry. Another automaker, Stellantis, also reported losses this week.

But these are different times. The federal government is pulling back, we have a trade war going on, a tariff war, if you will. So these are things that we need to watch," Walden said.

Planned layoffs fell 49 percent in June, according to report released Wednesday by outplacement firm Challenger, Gray & Christmas.

On Thursday, he raised tariffs on Canadian imports to 35%, effective Aug. 1, and he announced 30% tariffs on goods from the European Union and Mexico on Saturday.

The Supreme Court is allowing President Donald Trump to put his plan to dismantle the Education Department back on track and go through with laying off nearly 1,400 employees. With ...

The Supreme Court is allowing President Donald Trump to put his plan to dismantle the Education Department back on track and ...