Photo: Bill Clark/CQ Roll Call

With President Trump's trade war now hitting our closest allies — including the European Union, Canada and Mexico — some prominent Republicans are speaking out against the movie.

The big picture: The GOP was traditionally a bastion of free traders, championing the economic benefits of engagement with the rest of the globe. However, Trump has pulled the party and members of his own administration toward his "America First" brand of governing — slashing, or repeatedly threatening to slash, U.S. participation in huge free trade deals — with his administration's focus on economic nationalism.

What they're saying:

  • Nebraska Sen. Ben Sasse: "This is dumb. ... We've been down this road before — blanket protectionism is a big part of why America had a Great Depression. 'Make America Great Again' shouldn't mean 'Make America 1929 Again.'"
  • Arizona Sen. Jeff Flake chimed in simply: "Trade wars do not end well."
  • Utah Sen. Orrin Hatch reiterated a long held position: "Tariffs on steel and aluminum imports are a tax hike on Americans and will have damaging consequences for consumers, manufacturers and workers."
  • Pennsylvania Sen. Pat Toomey said it was "bad news" that Trump wanted to "impose taxes on American consumers" who choose to do business with America's "closest allies."

Go deeper: The effects of Trump's tariffs

Go deeper

Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.