Reed: Instead of Lowering Prices, Trumponomics is Increasing Inflation

WASHINGTON, DC -- As Trump's irresponsible tariff taxes and reckless trade wars cause inflation to surge and continue to push up the price of many goods - including clothing, furniture, groceries, and large appliances, U.S. Senator Jack Reed (D-RI) issued the following statement:

"President Trump is forcing Americans to pay higher costs for everyday goods. His senseless decision to ramp up tariffs on nearly every good entering the U.S. has created a de facto national sales tax and his chaotic policy decisions are dragging down American family finances. He should reverse course and work on a bipartisan basis to help bring down costs, lower prices, and strengthen our economy.

"His so-called 90 deals in 90 days hasn't materialized, but his trade war rhetoric has already driven up costs for Main Street businesses and those price hikes are passed along to consumers.

"I urge the president to curb his tariff taxes, senseless attacks on the independence of the Federal Reserve, and pressure campaign to lower interest rates for political expedience, which would only turbocharge inflation."

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