The economic policies of President Donald Trump are setting off alarm bells for former Rep. Mark Sanford (R-SC), who warned of their effects on both the American public and the GOP’s prospects in the 2026 midterm elections.
Sanford, who previously served as South Carolina’s governor, voiced his concerns Thursday during an appearance on CNN’s Erin Burnett OutFront. His remarks followed market turmoil triggered by uncertainty over Trump’s shifting tariff policies, which sent stocks into a downward spiral. Using the moment to issue a historical warning, Sanford called on Trump to take note of past economic missteps.
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“I think the administration is playing with real fire here,” Sanford cautioned, drawing comparisons to the Smoot-Hawley Tariff Act of 1930, which he said “imploded world trade” during the Great Depression. He warned of dire consequences if Trump’s approach to trade escalates into a full-blown trade war.
“If you set off the match that lights a trade war again, there will be hell to pay politically and there will be real consequences in people’s lives,” he told viewers. Sanford also criticized the wider economic impact of Trump’s policies, particularly on small businesses. But what worries him even more is the inflationary pressure these policies could create.
“Which I think could really, I mean, you talk about something that would bite the Republican Party in the midterms,” Sanford said. “Oh my goodness.” His comments came just hours after Trump dismissed concerns about the stock market’s sharp declines, telling reporters that he is “not even looking at the market, because long term the United States will be very strong with what is happening here.”
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Sanford’s warnings add to the growing unease among economic analysts and business leaders about the long-term effects of Trump’s economic strategy. With tariffs, inflation concerns, and small business struggles mounting, the political stakes could be high for Republicans heading into the next election cycle.
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