{"id":1051074,"date":"2025-02-01T21:05:45","date_gmt":"2025-02-02T02:05:45","guid":{"rendered":"https:\/\/democrats.org\/?p=1051074"},"modified":"2025-02-01T21:05:45","modified_gmt":"2025-02-02T02:05:45","slug":"dnc-chair-ken-martin-billionaires-wont-shoulder-trumps-tariff-costs-working-families-will","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/dnc-chair-ken-martin-billionaires-wont-shoulder-trumps-tariff-costs-working-families-will\/","title":{"rendered":"DNC Chair Ken Martin: Billionaires Won\u2019t Shoulder Trump\u2019s Tariff Costs \u2013 Working Families Will"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Trump\u2019s blanket tariff plan could cost families more than $1,000 a year<\/em><\/p>\n\n\n\n

With Donald Trump signing blanket tariffs that will ensure American families \u2013 not corporations \u2013 pay higher prices, <\/em>DNC Chair Ken Martin released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cHere\u2019s the thing about Donald Trump\u2019s erratic tariff policy: Trump isn\u2019t going to make corporate billionaires pay for these tariffs \u2013 working families and small businesses will. He\u2019s using American workers as pawns in his petty political games. If a president promised that they\u2019d help my family get by, and then they did this, I\u2019d be pretty pissed off. So, you should be pissed off.\u201d<\/p>\n\n\n\n

NEW: Donald Trump\u2019s White House just enacted tariffs that will cost Americans an extra $1,000 a year and raise costs drastically on energy, cars, and groceries. <\/strong><\/p>\n\n\n\n

Ernie Tedeschi, The Budget Lab<\/a>: \u201cA broad 25% tariff on all goods imports from Canada and Mexico would, before substitution & other 2nd stage effects, put upward pressure on the level of consumer prices of +0.6%. That\u2019s the equivalent of an average loss in after-tax income of about $980 per household in 2023<\/strong>.\u201d<\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cA 25% Trump tariff <\/strong>on Canadian oil and gas could lead to lower production, in turn pushing up U.S. energy prices,<\/strong> warned an industry group. Canada, the world\u2019s fourth-largest oil producer, sends almost all of its exports to the U.S. The prospect of tariffs has alarmed Canadian oil companies.\u201d [\u2026] \u201cOne industry representative said the tariff would push up car prices<\/strong>, an outcome Trump would likely want to avoid.\u201d <\/p>\n\n\n\n

Axios<\/a>: \u201c16 Nobel economists see a Trump inflation bomb\u201d<\/strong><\/p>\n\n\n\n

The Atlantic<\/a>: \u201cTrump\u2019s Plan to Supercharge Inflation\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cPresident-elect Donald J. Trump\u2019s threat to impose 25 percent tariffs on goods from Mexico and Canada sent shivers on Tuesday through the auto industry, which depends heavily on both countries for parts and manufacturing. <\/strong>[…] \u201cThere is probably not a single assembly plant in Michigan, Ohio, Illinois and Texas that would not immediately be affected by a 25 percent tariff.\u2019\u201d<\/strong><\/p>\n\n\n\n

Navigator<\/a>: \u201cA plurality of Americans view tariffs unfavorably and oppose Trump\u2019s tariff plan<\/strong>\u2026 […] \u201cMore than three in five say new tariffs would increase the costs of things that they buy. A greater share also say new tariffs will hurt U.S. consumers more than foreign countries.\u201d  <\/strong><\/p>\n\n\n\n

REMINDER: Trump and his billionaire Cabinet want to gift tax breaks to the ultra-rich and big corporations while leaving working families holding the bag as part of their Project 2025 agenda.<\/strong><\/p>\n\n\n\n

US News<\/a>: \u201cThe total net worth of the billionaires in the Trump administration, as of Dec. 10 equals at least $382.2 billion \u2013 which is more than the GDP of 172 different countries.\u201d<\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cMillions of low- and middle-class households would likely face significantly higher taxes under the Project 2025\u2019s proposals.\u201d <\/strong><\/p>\n\n\n\n

Trump\u2019s failed economic record includes offshoring jobs and shuttering factories \u2013 and his billionaire pick for Commerce Secretary screwed over American workers by helping companies ship manufacturing jobs to Mexico. <\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cOn the campaign trail with Donald Trump, Howard Lutnick railed against policies that encouraged factories and jobs to move to Mexico. But at the same time, the president\u2019s eventual nominee for commerce secretary runs a commercial real estate firm that has been pitching the virtues of Mexican manufacturing to American companies.<\/strong> \u2026<\/p>\n\n\n\n

\u201cHe is executive chairman of Newmark Group<\/strong>, a publicly traded commercial real estate firm, which has touted multiple industrial sites for sale and rent in Mexico, <\/strong>sometimes pitching them as a way for companies to avoid Chinese tariffs and tap into cheap labor.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/strong><\/p>\n\n\n\n

Bureau of Labor Statistics<\/a>: \u201cWhen Trump left office, there were over 170,000 fewer manufacturing jobs than when he started.\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cTrump told GM workers he could save their plant, but it\u2019s gone for good\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Trump\u2019s blanket tariff plan could cost families more than $1,000 a year With Donald Trump signing blanket tariffs that will ensure American families \u2013 not corporations \u2013 pay higher prices, DNC Chair Ken Martin released the following statement:  \u201cHere\u2019s the thing about Donald Trump\u2019s erratic tariff policy: Trump isn\u2019t going to make corporate billionaires pay […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1051074","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nDNC Chair Ken Martin: Billionaires Won\u2019t Shoulder Trump\u2019s Tariff Costs \u2013 Working Families Will - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/dnc-chair-ken-martin-billionaires-wont-shoulder-trumps-tariff-costs-working-families-will\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-02T02:05:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/dnc-chair-ken-martin-billionaires-wont-shoulder-trumps-tariff-costs-working-families-will\/\",\"url\":\"https:\/\/democrats.org\/news\/dnc-chair-ken-martin-billionaires-wont-shoulder-trumps-tariff-costs-working-families-will\/\",\"name\":\"DNC Chair Ken Martin: Billionaires Won\u2019t Shoulder Trump\u2019s Tariff Costs \u2013 Working Families Will - 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