Senate Republicans are holding their breath over President Trump's tariffs, which kick in tomorrow against Canada, Mexico and China.

• Why it matters: Many senators spent months telling us they saw the move from Trump more as a negotiating tactic. But some were concerned about what would happen if he followed through.

🚨 Now, sweeping 25% tariffs start this weekend on Canadian and Mexican imports — and 10% on Chinese goods, the White House said today. All three countries have vowed to retaliate against broad tariffs.

• Senate Majority Leader John Thune (R-S.D.) told us in August that "across-the-board tariffs is not something I have been for in the past." Thune is open to the selective use of tariffs.
• Sen. John Cornyn (R-Texas) described Trump's tariffs promises as potentially "problematic."
• Sen. Roger Wicker (R-Miss.), a former Senate Commerce Committee chair, also told us in August he's listening, but "not convinced that's the best approach."

Between the lines: Senators often cite concerns about tariffs leading to inflated prices for Americans — after a campaign cycle where Republicans repeatedly said former President Biden's policies led to inflation.

Zoom in: More tenured senators, especially free traders, have learned the value of waiting instead of staking out positions Trump can upend at any moment.

• Sen. Chuck Grassley (R-Iowa) is taking a "wait-and-see attitude," he told Reuters. Iowa is a big farm goods exporter.
• "Normally I'd be stronger in my comments because I am a free trader. I used to be in the majority when free trading was a majority of the Congress, but now I am in the minority," he said.

😈 The newer senators are on Trump's side, and they're content to let him cook. (See our Jim Banks item below).

• "Everybody runs through the streets saying, 'The sky is falling! The sky is falling!' but it doesn't fall," Sen. Jim Justice (R-W.V.) told Reuters.

Zoom out: The list of surprised leaders stretches beyond the Senate.

• "I don't believe that will happen," House Speaker Mike Johnson said earlier this week about across-the-board tariffs.

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— Stef Kight, Justin Green and Hans Nichols

Sen. Jim Banks (R-Ind.) sees himself as part of the "new right" that's transforming Congress, and Vice President Vance as the party's future.

• "He's got four years to learn from the best president that we've had in modern times. And he'll be ready to go," Banks told us in an interview.

Why it matters: Banks doesn't tiptoe around Trump. He's been solidly in line on tariffs, using the military to address immigration and backing Pete Hegseth, whose confirmation drama Banks described as "disappointing."

• Banks, 45, has currency with Trump's orbit and deep experience from his House tenure.
• "I'm younger than most senators," Banks told us. "I want to be a leader in the new Republican Party and paving the way forward beyond — even beyond President Trump."

What he's saying: Banks said he has long believed in marrying "the party of Reagan with the party of Trump, traditional conservatism with populism."

• "The old-school Republican Party has quickly faded away," Banks said.
• Banks was ahead of the curve, writing a 2021 memo about needing to win over the working class.
• Now he's hoping the GOP capitalizes on their new working-class coalition moving forward. "Democrats are running scared," he said, pointing to Sen. Gary Peters' (D-Mich.) surprise retirement.

Zoom in: Banks, who voted for the 2017 Trump tax cuts as a House lawmaker, thinks it was a "big mistake" to "overemphasize corporate tax rates over tax cuts on families and small businesses."

• He wants Republicans to put more focus this time on helping working-class Americans.

Now in the Senate, Banks has already introduced four pieces of legislation.

• Two are border and immigration related. One would ensure qualified immunity for police, and another designates fentanyl as a chemical and biological weapon that can be used to sanction Chinese officials.

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— Stef Kight

A pair of dramatic storylines will collide next week in the Senate's rush to confirm Trump nominees.

• Potential committee votes: RFK Jr. for secretary of HHS, Tulsi Gabbard for director of national intelligence and Kash Patel for FBI.
• On the Senate floor: Russ Vought for director OMB, Chris Wright for secretary of Energy and Pam Bondi for attorney general.