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Trump Launches Trade War That Will Raise Prices, Hurt Jobs

Today, Representatives Suzan DelBene (WA-01) and Don Beyer (VA-08) released the following statement after President Trump imposed sweeping tariffs on some of our largest trading partners.

“President Trump just started a trade war that will raise prices on American families and invite retaliation against American businesses, workers, and farmers. This is a tax on everyday goods that will hit the pocketbooks of middle-class families at the grocery store, the gas station, and the pharmacy counter. Trump says this is a negotiating tactic, but everyday Americans and small businesses will suffer while he and his billionaire friends are insulated from the economic pain this will cause.

“This is a blatant abuse of executive power. No president should unilaterally be able to put in place these broad-based tariffs that will have far-reaching economic impacts in communities across the country – Red, Blue, and everything in between. Congress must reassert its authority by reining in this egregious misuse of the law.”

Background

  • Today, Trump put 25% tariffs on all goods from Canada and Mexico, with a 10% tariff on Canadian oil exports. He also placed a 10% tariff on Chinese goods.
  • These tariffs are similar to the ones Trump proposed on the campaign trail and are estimated to directly raise prices on consumer goods by $2,600 to $4,000 a year for the average American family.
  • The Wall Street Journal Editorial Board called Trump’s tariffs, “The Dumbest Trade War in History.”
  • Sen. Rand Paul posted today, “Taxing trade will mean less trade and higher prices.”
  • In January, DelBene and Beyer reintroduced legislation that would prevent the President of the United States from imposing import tariffs under the guise of a national emergency without Congressional approval.