Leader Schumer Floor Remarks On Trump’s Economic Chaos And Rising Costs

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today spoke on the Senate floor on alarming new economic data that reveals how President Trump’s policies—particularly the Trump tariffs—are driving up costs, stifling business investment, and sowing economic instability. Below are Senator Schumer’s remarks, which can also be viewed here:

This morning, we got more worrying news showing how Donald Trump's administration is raising costs and sowing chaos in the economy.

The New York Times puts it succinctly: “U.S. Economy Slowed in First Half of 2025 as Tariffs Scrambled Data.”

And while the Trump administration will try to wave rosy headlines about the Q2 number, today's GDP number is, in fact, a mirage, because some ominous numbers lurk under the hood: business investment plunged in the second quarter by 3.1 percent.

The fact that business investment plunged so starkly is very troubling.

It shows that, already, businesses are worried about growing their operations, worried about hiring more workers, worried about trading with their international partners, and worried in general about the future.

And this number is another data point in a larger pattern: Donald Trump’s tariffs are weighing down the U.S. economy, spiking costs for small businesses and families alike.

And if Donald Trump keeps up the chaos, the dangers for the economy will continue to get worse.

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