During remarks on the Senate floor Wednesday, Senate Minority Leader Chuck Schumer (D-NY) spoke about President Trump's tariffs which he is expected to announce later this afternoon.
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NewsTranscript
00:00Today, Donald Trump takes a sledgehammer to the American economy, and even to the American
00:07dream.
00:08With the flick of a pen, Donald Trump is set to unleash the most reckless tsunami of tariffs
00:15Americans have seen in over half a century.
00:19Prices will rise on virtually every kind of product—produce, medicines, cars, homes,
00:26appliances, metals, paper products, beer, lumber, fertilizer, and more.
00:33But is Donald Trump worried?
00:35Not even a little bit.
00:37In fact, he said the other day he couldn't care less if prices go up.
00:41You hear that, America?
00:43Life is about to become far more expensive, and Donald Trump, the billionaire who promised
00:48to bring down inflation on day one, says he could not care less if you have to pay more.
00:55Maybe tariffs aren't such a bad deal if you're rich, like Donald Trump and the people running
01:00this MAGA government.
01:03They are in such a bubble.
01:05To have billionaires and wealthy, wealthy people running the show, which is what's happened
01:11in this Trump administration, they're in a bubble.
01:14They don't understand that when tariffs raise the average cost that an American family pays
01:20by $5,000, the plans to buy a new car, maybe put a new room on your house, go take a vacation,
01:33or go fly to see grandma, are out the window, and life becomes much tougher.
01:38But these billionaires, living in their bubble, don't know, don't care, don't give a hoot.
01:44For average families, Donald Trump's trade war is a financial gut punch.
01:49The average household is going to pay, on average, $6,000 extra a year.
01:54And why is Donald Trump so dead set on starting this ill-conceived trade war?
01:59Simply to pay for his tax breaks for billionaires.
02:02They talk about all the money they're going to gain, and what are they using it for?
02:09Reducing taxes on the very wealthy.
02:11The money they gain out of the pockets of middle-class working families who are paying
02:15more for almost everything, because of the tariffs, goes to pay for tax breaks for billionaires.
02:21It's disgraceful.
02:24Now fortunately, Mr. President, the Senate has a chance to slow this trade war down today,
02:29if Republicans join us.
02:31Later this afternoon, the Senate will vote on a resolution from Senators Kaine, Klobuchar,
02:36and Warner to undo Donald Trump's emergency declaration with respect to Canada.
02:42I'm proud to support this resolution, because we should be lowering costs for American families,
02:48not sending them skyrocketing like Donald Trump is doing.
02:52I know Donald Trump is pushing my colleagues on the other side of the aisle to vote it
02:56down.
02:58But my Republican colleagues should tune Donald Trump out.
03:03They need to stand up to the President when he's hurting American families so badly.
03:08They know, our Republican colleagues know, deep down in their hearts, these tariffs
03:12are wrong-headed, harmful, chaotic.
03:15I hope they do the right thing.