WATCH: Dem senator agrees with GOP that Trump's making progress on trade war

"I'm a huge fan of Bill Maher, and I mean, I think he's really one of the oracles for my party, and he acknowledged it, it's like, hey, he thought that the tariffs were going to tank the economy, and then he acknowledged that it didn't," said Fetterman.

"So, for me," he went on, "it seems like the E.U. thing has been going well, and I guess we'll see how it happens with China."

Additionally, Trump signed another executive order on Thursday to modify the reciprocal tariff rates for some countries to further address the United States' trade deficits. The action reflects Trump's efforts to protect the U.S. from foreign threats to national security and the economy by securing "fair, balanced and reciprocal trade relationships," the White House said.

Earlier this year, Trump announced an additional 10% tariff on all countries as well as higher tariffs for countries the U.S. has large trade deficits with. The tariffs became effective on April 9. Since then, Trump and his team have since made several trade deals with several countries.

Sen. Jack Reed, D-R.I., forecast that, despite the increased revenue, "within a few weeks or months, you'll start seeing significant increases in most things you buy. And also, you will see disruption in terms of a lot of our industries, because they're not able to access product or supply."

"When you have across-the-board tariffs, it does operate like a national sales tax, and I think people are going to be more and more hurt," predicted Sen. Chris Van Hollen, D-Md.

"This is the president who said he was going to come in and reduce prices. Prices are going to rise, and they're going to rise more over time," said Van Hollen.

Warren also claimed that Trump's tariffs are the reason the Federal Reserve has not lowered U.S. interest rates.

"Jerome Powell said last month that he would have lowered interest rates back in February if it hadn't been for the chaos that Donald Trump was creating over trade. And the consequence has been that American families have, for six months now, been paying more on credit cards, more on car loans, more home mortgages, all because Donald Trump has created chaos," she said.

In response to Democrats still predicting economic fallout because of the tariffs, Cruz sarcastically remarked, "I'm shocked, shocked that Democrats are rooting for the economy to do badly under President Trump."

"It'd be nice if some Democrats would put their partisan hatred for Trump aside and actually start working together for American workers and American jobs. Unfortunately, I don't see a whole lot of Democrats interested in doing that right now," said Cruz.

Sen. John Kennedy, R-La., while agreeing that the tariffs have been successful, voiced that he hopes the goal is to ultimately achieve reciprocal zero percent tariffs between the U.S. and its trade partners.  

"Clearly, the president got a good deal from one perspective. The Europeans just caved, they did. Fifteen percent tariffs on them, zero on us, commitment to invest in our country. But the part of the deal I like the most, the E.U. and the president agreed that a whole bunch of goods would be tariff-free. That is, no American tariffs and no E.U. tariffs. It's called reciprocity, and ideal reciprocity is zero on both sides," he explained.

"That's what I would like us to achieve in all the trade deals," Kennedy explained. "Let the free enterprise system work. May the best product at the best price win. That, to me, would be the perfect situation."