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.