Today is what President Donald Trump calls “Liberation Day,” the day he frees the U.S. economy from the global economy. President Trump claims that his policy of chaotically implemented tariffs will “bring back jobs” and that U.S. manufacturing will boom “like we have never boomed before.”
We’ve been down this road before, and it didn’t end well.
In his first term, President Trump claimed that he’d revitalize U.S. manufacturing, but he failed to do so; there’s no reason to believe that doubling down on the same, failed policies will do so now. There is a better way — and that comes with real federal investments into the American economy.
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Wyden: Trump Tariffs Will Make Everything More Expensive, Solve Zero Problems and Harm American Farmers and Small Businesses
Wyden Blasts Announcement of Blanket, Arbitrary New Taxes on Products from Canada, Mexico and China; Working Families Will Be Hit Hardest
Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., warned that blanket, arbitrary 25 percent tariffs announced by the White House today on products from Canada and Mexico and 10 percent tariffs on products from China would immediately hammer working Americans with higher prices, while accomplishing little.
“Slapping huge tariffs on gas, groceries, phones, TVs, and cars means working American families are going to pay more for the things they need,” Wyden said. “These tariffs only make sense as class warfare, forcing typical Americans to foot the bill for another round of tax breaks for Trump and his rich buddies. If Trump’s trade war continues, there’s no doubt U.S. workers will lose their jobs when Canada, Mexico, and China retaliate and slap tariffs on made-in-the-USA products.
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