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Schumer Criticizes New Tariffs as Burden on American Families
Senate Minority Leader Chuck Schumer (D-N.Y.) publicly condemned President Trump’s recent decision to implement wide-ranging tariffs, labeling them as a significant financial strain on average American households.
During a statement at the Capitol, Schumer remarked, “This is a huge tax on American families, all — all — to help billionaires get a tax cut.” He proposed that the tariffs were designed to raise funds to offset the costs associated with extending the tax cuts established in 2017.
Trump’s announcement revealed a standard 10 percent tariff on imports from all foreign nations, along with elevated tariffs for several countries identified as the “worst offenders” regarding trade practices. The declaration was made at 4 p.m. from the Rose Garden.
Schumer expressed his concerns, highlighting the unexpected severity of the tariffs. “When Trump announced them at four o’clock, it’s even worse than we thought because, in addition to all the other tariffs he’s talked about, 10 percent across the board on everything,” he stated to the press.
He further explained the potential impact on American families: “So when the average American family sits down and tries to figure out how they’re going to pay for things, and they hear they may pay $5,000 more than they’ve had to pay before, and they may not be able to buy a new car, they may not be able to support that new drug that grandma needs, they may not be able to take that vacation they were planning for a year, they’re going to be outraged, and they should be outraged.”
He concluded, “These tariffs are a disaster for the average American family.”
The newly imposed 10 percent tariff is scheduled to come into effect on Friday. Approximately 60 countries that will encounter a higher reciprocal tariff can expect these rates to be enforced starting April 9 at 12:01 a.m. Additionally, a 25 percent tariff on all foreign-made automobiles will be activated at the same time on April 3.
The tariffs target a variety of countries, including China, Vietnam, Taiwan, Japan, India, South Korea, Thailand, Switzerland, Indonesia, Malaysia, Cambodia, and members of the European Union.
Source
thehill.com