Reed: Economic Warning Signs Are Flashing & America Must Change Course

PROVIDENCE, RI – President Trump’s policy choices continue to cause economic harm for Americans and fuel inflation. President Trump’s tariff regime and war-related costs have significantly increased prices for Americans, costing average households thousands of dollars annually. Families are struggling due to Trump’s tariffs, war with Iran, deficit growth, and chaotic Treasury interventions, which, contrary to Trump’s desire to lower rates has instead increased them. Trump continues pushing America’s strongest trading partners to seek markets elsewhere, knee-capping American companies and workers. Today, after a dismal jobs report showed just 29,000 jobs added -- well below expectations for 90,000, U.S. Senator Jack Reed issued the following statement: “President Trump’s chaotic, reckless policies and unforced errors are directly raising costs for American businesses and families. His costly tariff tax regime is being paid for by Americans. His trade wars are shrinking markets for U.S. businesses. And his erratic comments and failed interventions are not helping. “Trump’s Iran war and its higher gas and diesel prices are adding fuel to the inflation fires facing Americans in all fifty states. “His irresponsible tax cuts for billionaires in the so-called One Big Beautiful Bill is already adding about $4 trillion of debt and now we’re seeing the benchmark 10-year Treasury bond yields hit a 24-year high, which raises mortgage rates and other debt financing costs for Americans. “The economic warning signs are flashing and it is time for America to change course, address the affordability crisis, and start governing in a more balanced, responsible manner.”