Senator Adam Schiff (D-CA) said Wednesday on MSNBC’s “Prime” that President Donald Trump’s tariffs will be a “disaster for our economy.”
Co-host Alicia Menendez said, “Senator, as we come on air, the Dow’s future is down a thousand points. We were told by the president it was liberation day. Are you feeling liberated?”
Schiff said, “No. I may be liberated from anything in a 401k as millions of Americans will feel that impact and will be liberated from any chance of having lower prices for things. This is going to be a disaster for our economy. It’s going to be a disaster for hardworking families that are going to have to pay more for auto parts or getting their car fixed or, you know, buying groceries or anything else. These other countries, many of whom are our closest allies, are going to retaliate against us. It’s just simply going to escalate from here.”
He added, “I talked to farmers out in California who still haven’t recovered the market share they lost during the first Trump administration from the ill-fated tariffs then. So this is going to be really disastrous — a massive self-inflicted wound on our economy from a president who campaigned on lowering prices but is, in fact, pushing them through the roof. ”
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