Warren for Senate: [link removed]
Let’s take
a step back and take stock of what happened after Donald Trump imposed his
reckless worldwide tariffs.
Americans watched their retirement accounts take a hit. Businesses started
hiking up prices, with many beginning to prepare for layoffs. Consumer
confidence hit its lowest point in years as millions of Americans wondered
if they’d have a job in three months.
And Trump’s Wall Street buddies got — in his words — “yippy.” That seems
to have been what caught his attention.
On Wednesday, Trump made a couple of big moves. First, he shared some
investing advice on Truth Social: “THIS IS A GREAT TIME TO BUY!!! DJT”
By the way: “DJT” is the Wall Street ticker for Trump’s media company. As
soon as he posted that message, his company’s stock price went through the
roof.
Then, just hours later, he paused a whole slew of tariffs. Stocks soared,
and anyone who’d taken Trump’s tip — maybe including the wealthy donors he
dines with at Mar-A-Lago — started seeing dollar signs flash before their
eyes.
Did we just see market manipulation and corruption in plain sight?
Two things here:
1. I’m calling for an independent investigation into whether Trump or
anyone on his team intentionally manipulated the market to help out his
billionaire buddies, and whether they engaged in insider trading.
2. On top of the potential corruption, Trump’s trade war chaos is hurting
real people. Congress can and must take the blow torch out of his hands
right now.
I’ve introduced bipartisan legislation that would roll back Trump’s bogus
authority for launching this trade war in the first place. You see,
Trump’s tariff policy is based on a law that says the president can take
certain steps to respond to extraordinary threats and declare national
emergencies. But Trump just declared that our long-standing trade
relationships with dozens of countries counted as a national emergency.
That’s not how this works.
Bottom line: Trump is not a king and Congress is not powerless. This is a
moment for Republicans to show some backbone, and a few of them already
did last week when they joined every Democrat in voting to reverse this
disastrous trade war. [ [link removed] ]If you’re with me in this fight to prevent Trump
from sabotaging our economy, add your name to show your support for my
resolution that would undo Trump’s emergency declaration.
[ [link removed] ]ADD YOUR NAME
Look: tariffs can be an important tool in the economic toolbox, but
they’ve got to be used like any tool — in the right way, and carefully.
Trump’s tariff policies are too broad, too across the board, and apply to
way too many countries.
He keeps engaging in magical thinking about who’d pay for tariffs and how
fast industries can spring up.
And like the rest of Trump’s agenda, his tariffs would hit the millions of
Americans who are just scraping by the hardest. As Federal Reserve chair
Jay Powell noted, under a Trump-style trade war, inflation would probably
rise and make life even more unaffordable for working families everywhere.
Those are the people who get kicked in the teeth when our economy goes
under. You can measure a recession with all kinds of fancy charts and
graphics, but at the end of the day, they hit our nation one household at
a time. Millions of people can lose their jobs, their savings, and their
retirement. And in a Trump trade war, they’d also take on higher costs. So
much for those lower prices Trump promised on the campaign trail, huh?
It took us years to dig our way out of the 2008 crash. But unlike the
Great Recession, or the economic crisis from Covid, this economic chaos
has been created by one man: Donald Trump.
Trump’s abrupt reversal doesn’t erase the damage that has already been
done, or help the uncertainty millions of Americans and businesses are
facing. It’s up to Congress to remove his fake emergency authority to slap
tariffs on our friends and foes alike, with little rhyme or reason.
Republican members of Congress are already feeling uneasy about Trump’s
tariff policies. A handful of them voted to reverse Trump’s “emergency”
declaration justifying a trade war with Canada — but a handful isn’t
enough. We need more Republicans to stiffen their spines and pass our
resolution to protect families, businesses, and the United States’
position in the world.
[ [link removed] ]Add your name to demand swift action to rein in this attack on our
economy and stop Trump’s disastrous trade war agenda.
Thanks for being a part of this,
Elizabeth
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