Leader Schumer Floor Remarks On The Economic Chaos Of The Trump Administration

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today spoke on the Senate floor following President Trump’s announcement of a new 25% tariff on all auto imports, condemning it as part of a chaotic and incoherent trade war that is driving consumer expectations for the future to a 12-year low, endangering Americans’ retirement savings, and acting as a national sales tax on American families. Below are Senator Schumer’s remarks, which can also be viewed here:

Yesterday, President Trump announced a new round of tariffs of 25% on all auto imports into the USA.

But we have no details, no timeline, no plan. Only more chaos. Donald Trump’s trade war has accomplished only one thing to date – chaos. In the sixty-six days since Donald Trump became president, he has had sixty-six different positions on this issue.

One day he says yes to tariffs, the next day he says no, then the day after that he says yes again. He can't make up his mind on which country should have them, which shouldn't, how much, what products. It’s one big mull.

Make no mistake about it, Donald Trump's tariffs are a national sales tax on American families. Tariffs without a plan will only raise prices without anything to show for it.

It’s like he’s playing Russian roulette with the economy. Whatever seems to pop in his mind one day, he talks about. Then the next day, it's something else. It’s chaos.

His trade war is sending stock markets crashing, hurting people’s retirement, increasing the risk of a recession. A lot of banks increased their risk assessments of a recession because of Trump's actions.

Consumer confidence is cratering. Yesterday, we learned people’s outlook for the economy has hit a 12-year low, even lower that it was during the height of inflation. A 12-year low.

How can anyone feel confident about the economy when Elon Musk is taking a chainsaw to Social Security?

How can anyone feel confident about the economy when Donald Trump is imposing tariffs on people?

The average credit-card debt, meanwhile, surpassed $10,000 for the first time since 2009. With such chaos in what's going on with tariffs, it's no wonder that the American consumer doesn't have confidence in Donald Trump and the way he's handling the economy.

So, the economic alarm bells are ringing.

Donald Trump is pouring fuel into the fire by launching America into a trade war with no plan whatsoever.

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