Rep. Carbajal Statement on President Trump’s Retreat on 25% Tax on Central Coast Families and BusinessesCarbajal: “Make no mistake: Donald Trump saw today the widespread concern with declaring a trade war on two of our largest trading partners, and found a way to save face”
Washington,
February 3, 2025
Tags:
Inflation
After it was confirmed that President Donald Trump will delay his new 25% tariffs on all imported goods from Canada and Mexico, Congressman Salud Carbajal issued the following statement: “For nearly a decade, President Donald Trump has campaigned on the idea that his reckless tariff agenda will be paid for by other nations. But the response today across business groups, financial markets, and individual communities is clear: the American people are clear on who will foot the bill for President Trump’s agenda.
“Make no mistake: Donald Trump saw today the widespread concern with declaring a trade war on two of our largest trading partners, and found a way to save face.
“A tariff is a tax on American consumers, forcing them to pay more for their food, their appliances, and even their construction materials as many Californians work to rebuild their homes after devastating fires. Donald Trump’s taxes will only make their struggles worse, and hurt the California farmers, growers, and manufacturers that rely on North American markets for bringing their goods to market.
“I know today is just a small victory in the war to lower the cost of living for Californians. I will keep working in Congress to prevent these additional costs from being levied on my constituents.”
Earlier today, the S&P 500 stock index dropped nearly 1.9% – nearly $1 trillion of its market value – on the announcement of across the board U.S. tariffs, and the Dow Jones fell more than 600 points.
The U.S Chamber of Commerce, the National Association of Manufacturers, the American Farm Bureau, and a wide range of American consumer and business groups denounced the announced tariffs over the past few days. |