Leader Schumer Floor Remarks Calling Out The Trump Administration’s Tariff Chaos As A National Sales Tax, Forcing Americans To Pay Higher Costs

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today spoke on the Senate floor to condemn Trump’s chaotic so-called trade deals for increasing costs on American families and small businesses. Below are Senator Schumer’s remarks, which can also be viewed here:

Just about an hour ago, the president announced a tariff agreement with South Korea. But if past is prologue, this so-called deal is one where U.S. families will pay more because it will increase their costs with the rise in tariffs of 15%.

It is one where bold promises are made, that billions in investments will come our way, but with no substance to back it up. It seems to be just another one of these so-called deals that hurts the American people.

Earlier this morning, we got more warning signs that Donald Trump’s foolish trade war is taking its toll on the U.S. economy.

According to the New York Times, “The U.S. Economy Slowed in the First Half of 2025 as Tariffs Scrambled Data.”

“Scramble” is precisely the right word. Or you might call it chaos.

Because from the moment Donald Trump announced his so-called “Liberation Day,” his tariffs have ushered a season of pandemonium for markets, small businesses, retailers, and families.

Just today, Ford, one of the biggest American car manufacturers, announced these tariffs will end up costing the company $2 billion this year.

Big retailers like Walmart, or Amazon, and others, have at one point or another warned of price hikes for everyday goods like clothes, appliances, and toys.

The American people are worried about their increased costs of the things they buy. And yet, these tariffs even raise those costs higher.

That sure does not sound like a golden age to me.

And nor does the extra $2,400 that households will pay extra on average under this tariff scheme by the president.

Instead, you know what this sounds like? It sounds like a national sales tax on the American people, plain and simple.

That’s what Donald Trump’s tariffs are: a national sales tax on families and small businesses.

And on August 1st, if Donald Trump doesn’t change course, a whole new slew of tariffs on dozens of countries will come into effect, and tax the living daylights out of households and businesses even more.

And look, nobody is fooled here by Donald Trump’s ruse. My Republican colleagues, in their private moments, know that Donald Trump is a BS artist when it comes to tariffs.

His pattern is always the same: he makes wild promises, he talks a big game, but he never seems to follow through. He lies about what he says, he blames others, he is like a snake oil salesman.

Just look at the so-called “deal” with Japan. Donald Trump hailed it for supposedly delivering $550 billion dollars in investments.

But almost immediately – almost immediately – the Japanese government said the real investments would be less than two percent of that figure.

What nerve for Donald Trump to mislead the American people on these tariffs. But he does it over and over again.

What about his supposed deal with the European Union?

Again, Donald Trump howled from the mountaintops saying Europe would buy $750 billion worth of American energy, and would make $600 billion in new investments in the U.S..

But immediately, typically, after the announcement was made, it was painfully obvious that those numbers were essentially made up. The EU stated publicly that the agreement was non-binding and they had no real plan to back it up.

And tonight, the South Korea deal doesn't sound much different: a sales tax on the American people – fifteen percent is a lot – and bold promises of investments that are made that never materialized that almost vanished the day after they're announced.

The only parts of these “deals” that are real are the real costs Americans will pay out of pocket. Grocery prices will go up, every day goods will go up, but their savings, earnings, and prosperity in this country for American families will go down.

Meanwhile, is Donald Trump being tough on China like he wants people to think? Of course not.

On the contrary, he is giving the Chinese government greater access to U.S. semiconductors that are vital for our national security. Where it counts the absolute most, which is getting tough on China, Donald Trump is acting like a pushover.

By sending them sophisticated chips, they're going to allow China to catch up to us in things like AI and many other new technological advances.

A few years back, we worked hard to see that these vital chips were not sent to China. But in one fell swoop, without any real explanation as to the damage it will do, Donald Trump reversed it.

Democrats have been fighting back against these catastrophes from the start. I am disappointed that, just a few minutes ago, our Republican colleagues chose fealty to Trump over relief for the American people by blocking Senator Shaheen’s bill and also Senator Welch’s that would have halted many of Donald Trump’s tariffs and protected so many American small businesses.

The right answer here was so glaringly obvious, but Republicans elected to worship at Donald Trump’s altar yet again, even though they know these tariffs are terrible for people back home.

Republicans will have to explain to people back home why they are so okay with increasing their costs and abandoning them to Donald Trump’s endless tariff chaos.

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