New Dem Chair Schneider on Trump’s Trade War: “We must stop this whiplash and end the chaos once and for all.”
Congress must strip the President of his ability to inflict repeated devastation on the American people by reasserting our constitutional authority to oversee trade policy.
Today, New Democrat Coalition Chair Brad Schneider (IL-10) issued a statement after President Trump announced (on Truth Social) a 90-day pause on a portion of the new tariffs, a continuation of the 10 percent tariff rate on every U.S. trading partner, and an escalation to a 125 percent tariff rate on China.
“In less than a week, President Trump’s ‘Liberation Day’ single-handedly wiped out more than $10 trillion of value on the stock market. His arbitrary tariffs, especially on allies and reliable trading partners, needlessly inflicted mass panic and pain on American consumers and businesses alike, only to be abandoned just days into his supposedly ‘permanent’ tariff regime.
“This abrupt reversal retreat proves beyond any reasonable doubt that the President does not have a strategy to help the American people or the economy. What was the purpose of this self-inflicted economic crash? Absent any solid explanation from the Administration, it’s evident the goal of the President and his corrupt cabinet of billionaires was to manipulate the market, concentrate power, and personally profit off of the chaos he created, while working people suffer.
“Now what will happen in 90 days? What will have changed? This pause offers no certainty for American families, small businesses, or our allies.
“Amidst all this confusion, one thing is crystal clear: the threat of this trade war and enormous national sales tax is not over, but just beginning. The President has only paused a portion of his tariffs, and retains the ability to decimate US and global markets by sending out another social media post at any moment.
“We must stop this whiplash and end the chaos once and for all. Congress must reclaim its constitutional responsibilities and strip the President of his ability to inflict senseless devastation on the American people.”
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