While President Donald Trump’s tariff announcements roil the markets, some lawmakers are challenging the president’s actions.
On Wednesday, Sen. Kirsten Gillibrand (D-NY) held a press conference after she signed a bipartisan bill requiring Trump to explain the reasoning and the impacts of any new tariffs to Congress within 48 hours of imposing them.
During the press conference, Gillibrand warned that everyday costs could rise drastically as a result of the tariffs.
“Experts project these tariffs could cost Americans nearly $4,000 per household per year, decimate over 600,000 American jobs and raise prices on everything from clothing and electronics to cars, health care and food,” Gillibrand said.
The proposed legislation will limit the president’s ability to impose tariffs without the approval of Congress. The legislation aims to give Congress a say in the implementation of the tariffs, but Trump threatens to veto the bill.
Trump has said tariffs will add jobs and encourage U.S.-based manufacturing.
But Gillibrand said they could devastate New Yorkers.
“These tariffs represent the largest tax hike on American consumers since 1951,” Gillibrand said. “They will devastate small businesses, lower life savings, and kill good-paying jobs across New York. They will increase the cost of living for middle-class families, and it's basically absurd.”
Trump announced Wednesday afternoon that he will suspend reciprocal tariffs for most countries—excluding China—for the next 90 days.
