Luján: One Year of President Trump’s Tariffs Have Driven Up Costs and Made Life More Expensive for New Mexicans

Washington, D.C.— U.S. Senator Ben Ray Luján (D-N.M.), a member of the Senate Committee on Finance, issued the following statement on the one-year anniversary of President Trump’s sweeping tariffs that have hurt hardworking New Mexicans and Americans across the country:
“One year ago, President Trump’s so-called ‘Liberation Day’ ignited a global trade war that has driven up costs and made life more expensive for families in every corner of New Mexico and across the nation. Instead of focusing on lowering costs for American families as he promised, President Trump doubled down on policies that have made life more expensive for Americans.
“Fast forward to today, President Trump is driving up costs further with his illegal war in Iran while continuing to sidestep the Supreme Court’s ruling to push new tariffs that fuel economic uncertainty. These tariffs are a tax on New Mexicans and small businesses across the country. The Trump administration must provide American small businesses the refunds they are due and take action to repair our nation’s economic relationships around the world.”
Last week, Senator Lujáncalled onthe Trump administration to put in place an automatic tariff refund process. In February, Senator Lujánintroducedthe Tariff Refund Act of 2026, legislation to require full refunds of President Trump’s illegal tariffs. In June, Senator Lujánhosteda forum that examined how President Trump’s tariff policies fuel economic instability, raise costs on working families, harm the travel and tourism sector, and benefit special interests.
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