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'Dumbest' Recession Ever: Democrats Prepare To Make GOP Pay For Trump’s Tariffs
Few Republicans are eager to defend the president's tariffs, putting the party on the back foot for the first time in Trump’s new term.
'Dumbest' Recession Ever: Democrats Prepare To Make GOP Pay For Trump’s Tariffs
Few Republicans are eager to defend the president's tariffs, putting the party on the back foot for the first time in Trump’s new term.
WASHINGTON ― Senate Minority Leader Chuck Schumer (D-N.Y.) on Thursday harshly criticized President Donald Trump’s sweeping new tariffs, saying they will translate to deep economic pain for millions of families and businesses nationwide.
He also signaled that Democrats are ready to go on offense, casting themselves as the party fighting for everyday Americans as Trump wrecks the stock market and Republicans tee up a budget measure that benefits billionaires. The GOP, for one of the first times in the second Trump era, is on the back foot politically and divided on how to respond.
“Yesterday, the president made one of the dumbest decisions in history, one that will negatively impact every single American family, every single one,” Schumer charged in a press conference, flanked by other Democratic senators. “He’s walking us into the dumbest and most avoidable recession, probably in history.”
Their press event comes a day after Trump announced his across-the-board tariffs on all U.S. trading partners. The president’s actions have sent global markets into a tailspin, and by the start of U.S. trading on Thursday, he’d erased roughly $2.5 trillion from the S&P 500.
“Stock market has plummeted. Retirement savings are tanking. Consumer confidence is falling. Consumer expectations for the future are historically low,” Schumer said. “The average American family is going to pay more for everything: for food, for gas, for cars, for groceries, for clothing, for beer, for you name it. It makes no sense.”