Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, this morning, I will take a little more than the usual time because I want to review what…
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
Mr. President, this morning, I will take a little more than the usual time because I want to review what happened, over the past 8 days, with Trump's tariff tax so that it can be preserved in the Record and so that we as a nation can try to process the reckless, unnecessary damage President Trump has created.
The past 8 days have been an absolute embarrassment for President Trump and for everyone who truly cares about this country. During these 8 days, the world saw the President of the United States reveal his total lack of understanding of international trade, macro- and microeconomics, and foreign relations. The world saw the American President issue a tariff ultimatum so ill-conceived and so flawed that it was mocked from here to the Heard and McDonald Islands.
This whole episode is so ridiculous that even the writers of ``Veep'' and ``House of Cards'' would have shredded their drafts. Yet it was real. It had real effects, lasting effects on real people.
Donald Trump's tariff fiasco caused real damage to the confidence other nations have in America. It had real effects on the uncertainty we feel every day that Donald Trump sits in the Oval Office. It had real effects on people's retirements.
Let's start with his announcement on April 2 that that would be ``Liberation Day,'' a day of massive worldwide tariffs. Rather than providing a coherent explanation for such a substantial policy change, the stated justification for this massive tariff application varied, depending on the moment or who the administration spokesperson was. Depending on the day, President Trump claimed that tariffs would either balance the budget, enable the elimination of the income tax, or bring manufacturing jobs back to the United States.
While Peter Navarro gave full-throated support to all three of those goals, most of the rest of the administration ignored the first two goals and focused on bringing manufacturing jobs back to the United States--a worthy goal; one the Democrats, including myself, have been advocating for decades.
However, even administration officials couldn't get on the same page. While Navarro and Secretary Bessent were talking about the return of jobs, Secretary Lutnick was espousing that manufacturing would be coming back but that it would be automated, he said. So are we bringing manufacturing jobs back or displacing them with machines?
It is clear, Mr. President, as April 2 approached, no one--not even the most devoted Trump apologist, except maybe only Ron Vara--believed the President had an actual plan. Nevertheless, he persisted, and on April 2, President Trump, against all semblance of common sense, announced tariffs beyond what even the most isolationist Republican could have envisioned.
The President made some outlandish claims, and he held up a chart with a lot of numbers on it. And his claims and those numbers were a surprise to pretty much everyone--everyone--who understands the language, the theory, and the mathematics of trade.
Putting aside the idiotic tariffs applied to penguins who produce nothing but guano and baby penguins and consume little more than krill and fish and putting aside tariffs on countries that make products Americans crave but lack the purchasing power to buy our products in return, we all quickly realized that the numbers on Donald Trump's chart were so nonsensical that it took some of the world's greatest economic minds to reverse engineer it to determine the formula. And yet, in perfect Trumpian fashion, his administration released the ``actual'' formula and the assumptions behind the chart.
Again, it quickly became clear that he based his entire tariff scheme on a formula so flawed, so economically incoherent that he had to insert some random Greek letters and assign them phony values just to make it look like something out of ``A Beautiful Mind.'' But instead of a stroke of genius, what we got was gibberish--not genius but gibberish.
Remember back in 2019, when Hurricane Dorian was approaching Florida and President Trump used a Sharpie to alter a NOAA map to try and cover for his mistake? Well, this phony formula is the 2025 reincarnation of Sharpiegate, except the economic consequences of this fraud will affect millions and millions of Americans.
I won't stand up here and say I oppose all tariffs. I don't. I appreciate my supporters on Twitter reminding everyone that I have long championed tough trade policies on China, going back to my early days in the Senate.
But I and the American people oppose a whimsical, nonsensical approach to international trade, especially one that so clearly will increase costs on American families. It is one thing to target tariffs on bad actors like China; that makes sense.
But to raise tariffs on allies such as Canada and Israel? Everyone knows that makes no sense.
To raise tariffs on random islands as the Falklands, Heard and McDonald, and Svalbard? Everyone knows that makes no sense.
To raise tariffs on countries like Madagascar that import little from us but produce products wanted by millions of Americans? Everyone knows that makes no sense.
And yet he persisted. Trump persisted, and the world's financial markets melted down on Thursday and Friday.
Now, that meltdown may not have mattered to President Trump, but it certainly mattered to millions of
Americans. While the big financial players can hedge against an ignorant, erratic President, everyday Americans who have their hard- earned nest eggs in pension funds, IRAs, and 529 accounts to help pay for their kids' college tuition don't have that luxury. While the President and his family can create new meme coins and sell cheap made- in-China swag, so that bad actors and sycophants can funnel the money, most Americans don't have that luxury.
No, Mr. President, most Americans are living paycheck to paycheck. If they are lucky, they put a little away each month for retirement or college savings. Some of them keep that money in interest-bearing accounts for the stability. Their savings are probably doing OK, but costs are going up, so that they may have to dip into those savings. The President let them down.
Some Americans put that money in mutual funds that depend on stability and predictability. The President let them down as well.
Of course, some Americans have no exposure to the stock market. Their only hope for retirement is Social Security, which congressional Republicans want to gut, and Elon Musk calls a Ponzi scheme. But the President also let them down because they may not be exposed, but their employer probably is, as are their neighborhood grocer and hardware store, and they will be affected if any prices rise.
When the financial markets closed on Friday with one of the biggest drops in history, President Trump was golfing and dining with his Saudi friends. On Saturday, while the Nation was stressing over their financial instability, the official White House Press Office gleefully announced that the President would, on Sunday, compete in his club's golf championship. This was the Trump version of ``Let them eat cake''--``Let them eat cake.''
Then on Sunday, after a week of uncertainty, a weekend of stress, while small business owners, retirees, and young families across the country were sitting at their kitchen tables trying to figure out how they were going to handle this dramatic increase in costs, what was the President doing? He was, of course, still golfing. And to the surprise of no one, except for maybe the actual tournament winner, President Trump tied for his own club championship, a remarkable achievement, to be sure. In fact, so great is that achievement that, if the President would make public his scorecard, I would gladly enter it into the Congressional Record and ask for its preservation at the National Archives, though I am sure his caddy would be reluctant to testify under oath. I know the President likes to talk about his handicap.
Over the weekend, his administration tried to cover up for his indifference by claiming that ``more than 50 countries'' had reached out to start negotiations. That claim may have temporarily calmed the futures market, but its unbelievability certainly harmed the White House economic adviser Kevin Hassett's credibility.
Adding to the uncertainty and lack of faith was the incoherence within the administration that was in full public effect over the weekend.
In between golf swings, the President found time to post:
WE WILL WIN. HANG TOUGH, it won't be easy.
Meanwhile, America's de facto President, Elon Musk, told a globalist conference in Italy he wanted a ``zero-tariff situation'' between the United States and Europe. That aspiration was quickly and directly rebutted by the tariff architect, Peter Navarro, which led to a public spat the likes of which the Presidency has rarely seen.
On Monday, the markets started low but quickly skyrocketed because some ``verified'' Trump Twitter account announced that an administration official said Trump would pause tariffs for 90 days. The world and the markets rejoiced, but the administration quickly refuted that assertion, and the markets fluctuated downward.
Tuesday started with great optimism and a quick market rise, but China's retaliation and the rumors of a European equivalent turned the rally bearish, which brings us to yesterday, Wednesday, April 9.
Mr. President, history will likely record this day as America's actual ``Liberation Day'' because it is the day that President Trump backed down--backed down. Of course, as with anything Trump does, his backing down created a few private winners and several public losers. We may never discern who the private winners are, but we do know that, at 9:37 a.m., President Trump posted, in all capital letters:
Mr. President, on July 16, 2007--a while back--I hired a legislative assistant to handle our healthcare and education policy.
I didn't know it then, but this new member of my team, this native of Hawaii who came to work for a Senator from New York--she did live in New York for a while and went to high school there. I always tease her about the high school she went to, Brearley--would, in time, become my legislative director.
She would stay with my team not just for years but for almost two decades--two decades. She would become one of the most talented, most effective, and most trusted advisers I ever, ever had--and I have had a lot of good ones--this person, of course, who is sitting next to me right here, Meghan Taira, the best legislative guru I could have ever asked for, the best legislative director in the business. That says a lot because there have been a lot of good ones there too.
Tomorrow, after 18 wonderful years, Meghan will move on from her time in the Senate. She sat in this chair many times directing me, helping the Senate move forward. This will be her last time sitting in that chair, and we are the lesser for it because she is so great.
We won't dwell on the goodbyes--that is too bittersweet--and instead we will all say thank you to Meghan Taira.
Thank you for 18 wonderful years--18, wow, amazing.
Now, Meghan, one thing I will say, and you will shake your head in agreement, thank you for putting up with me--not so easy--every day, all day, on the phone. I will call Meghan at 6 in the morning. I will call her at 11 at night, after she had put her beautiful boy to bed, again and again and again.
Thank you, Meghan, for being the field general of our team, the field general we needed all those years.
Meghan likes astrology. She is a Leo. Like all great Leos, she is a natural leader, fiercely loyal, not just to me but to everyone in her office. She exuded confidence every single day, no matter what problem lay before us. I would see these problems, and I would say: Oh, my God, how are we ever going to solve that? She would walk in, have her solution, and poof, it was solved.
She was by my side in some of the most pivotal moments of my time in this Chamber. Meghan counseled me and my whole team as we worked to pass the Affordable Care Act in 2009. It wouldn't have been as good of a law as it was without Meghan Taira.
Seven years later, she was at my side again defending the ACA from repeal, leading our caucus to hold the line. No one thought we would, but we did. It wouldn't have happened without Meghan Taira.
Meghan, if the rest of the world could see you in action like I have, from the way you set the tone each morning to the way you walked all of us through the bills, taking this complicated legislative language and putting it into normal language that we can understand, the way you talk about each vote, each floor fight, the way you are able to predict--how do I shut this off? This is something Meghan is used to, being interrupted by my cell phone at every moment. Somehow I can't shut the thing off.
Anyway, everyone would think what I think if they could watch you, and that is, thank God there is a Meghan Taira around.
I know there are lots of ``Schumerland'' alumni watching right now, our great staff team, running along the whole top place there, many more are watching on TV--hello, Schumerland. You are a big, wide group, but almost every one of you have been trained and been made a better staffer by Meghan Taira, and all of Schumerland thinks the same. Maybe they think I am not being superlative enough because on a good day, getting things done in the Senate, they know--our staff knows--it is hard. On hard days, getting things done seems nearly impossible. And then you have the strange days, like we just went through with vote- aramas.
How many vote-aramas have you been through, Meghan? Have you counted?
Thirteen, a lucky number, in this case, for us.
It takes a special talent, a bit of a mad genius to keep nearly 50 U.S. Senators facing in the right direction at 3 a.m. during an amendment vote. But that is typical. We had every Democrat unified on all--what was it, 27 amendments? Maybe more, but at least 27 amendments.
But that is what Meghan has been doing all these years, a compass pointing us in the right direction, the animating spirit of my leadership and legislative team.
Most importantly, it takes a really special person to dedicate so many years of their life--nights, weekends, holidays, life events--to work in the Senate. She and her husband Gerry--they met on my staff; they were a Schumer marriage--are so dedicated to their boy George. It is such a beautiful thing watching him grow up. She was always both busy with George and paying attention to legislation at the same time. I would hear George in the background on many of our calls. One day, maybe he will be a great legislative leader as well. But it takes a special person to dedicate so many nights, so many weekends, so many holidays, and so many life events to work in the Senate.
So, Meghan, you have made your mark on the Senate, on the State of New York, on the United States of America, and even the world. There are, undoubtedly, people living happier and healthier lives on all the continents because Meghan Taira sat in this chair and the chair at her desk in her office for so many years.
Without Meghan, none of our greatest accomplishments of the last 18 years would have been possible: no infrastructure bill, no Chips and Science, no IRA, no gun safety, no marriage equality, and so much more.
Without her, pandemic relief would have been half as strong, half as generous, half as sweeping as it was when America needed the whole thing; it needed boldness. There would be no paid family leave for Federal workers. New York hospitals wouldn't have gotten their lifeline to stay afloat during COVID. Hundreds of thousands of people owe their jobs to Meghan because they would have closed down if we hadn't done that during COVID.
Under Meghan's tenure, we negotiated the first bipartisan budget deal, in 2017, where we finally raised domestic spending to parity with defense. She was 8 months pregnant when she negotiated that bill-- superlady, superwoman, superperson, super everything.
Meghan helped orchestrate 13 vote-aramas. I had asked her that before. She saw 2,000 bills--2,000 bills--become law and helped me write and introduce no less than 260 pieces of legislation.
She has done it all. She has seen it all. And I am just so lucky that she did it all as a member of my team.
So, Meghan, you have checked out perhaps more books than anybody from the Library of Congress or more than any staffer I know, but now you will get to check out books that you want to read, not that your job requires you to read, because I know you love to read. And I am happy that George and Gerry will get to see mom around the house more.
Though you are going to move on to greener pastures, Meghan, a piece of you will always dwell in these Chambers, in these halls, in this great institution, and in my heart. We love you, Meghan.
Am I allowed to stand up and hug you on the floor of the Senate? Well, I will.
The great Meghan Taira, America. She served you well.
I yield the floor.
(Applause.)