Reed Says Trump’s Tariffs are ‘Making an Economic Mess for U.S. Consumers & Businesses,’ Vows Bipartisan Action to Block Trump’s Threats Against U.S. Allies

CRANSTON, RI - Today, U.S. Senator Jack Reed condemned President Trump's reckless, chaotic, and irresponsible tariff policies for fueling inflation, raising prices, and financially squeezing American families and businesses alike.

"Trump's tariffs are a consumption tax on Americans and they are not in America's best interests. He has concocted a scheme to misuse emergency powers to impose tariffs as a way to threaten opponents and settle personal scores against countries he feels has slighted him. Instead of threatening the security and prosperity of our allies, President Trump should be focused on strengthening America's economy, creating jobs, increasing American paychecks, and lowering costs for working families," said Senator Reed.

Last year, President Donald Trump raised U.S. tariffs to their highest level since the 1930s. As a result of Trump's erratic trade war policies, Americans are experiencing rising costs and being forced to foot a higher share of the bill.

The Wall Street Journal reports that Americans absorbed 96 percent of the cost of Trump's tariffs last year. And Yale researchers estimate Trump's tariffs cost American households around $1,700 last year.

"President Trump promoted tariffs as a way to revive American manufacturing, but the facts show the opposite: American manufacturing jobs are being lost under the Trump Administration. To deflect from his failure, Trump has also claimed tariffs will make other nations trade more fairly with the U.S. However, his tariffs are pushing countries to trade more with other nations instead of the U.S. Indeed, one of our closest allies - Canada - just signed a major deal with China. And today, the European Union halted their trade deal with us," noted Reed.

The U.S. Senate has voted to cancel the President's country-by-country tariffs, but House Speaker Mike Johnson (R-LA), on the President's orders, has bottled up bipartisan bills.

Reed vowed to help advance bipartisan legislation to block Trump's recently-threatened tariffs against European allies. He also noted that the U.S. Supreme Court is currently weighing the legality of most of Trump's tariffs, and could issue a ruling when the court returns to session in late February.

"I am hopeful the Justices will not simply find the President's actions unconstitutional, but will also require the President to return an estimated $150 billion he has taken from Americans," said Senator Reed, who is fighting to enact laws that will lower costs for families, including measures to:

Extend the Affordable Care Act subsidies to lower health care costs for millions of Americans.

Ensure data centers pay their fair share for the higher electricity prices they cause.

Construct new housing at price points Americans can afford, while pushing institutional investors out of the single-family housing market.

"The U.S. economy is resilient, but instead of promoting prosperity, President Trump is impeding economic growth. President Trump needs to stop imposing tariffs that punish American families and businesses. He is holding America back and constraining economic output. It's time to terminate these tariffs, help lower prices, repair relationships with our allies, and halt the unchecked expansion of presidential power. Let's return this money to the American people and get our economy working again," Reed concluded.

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