Mr. President, on a separate topic, I want to address the Trump tariff tax--Trump tariff tax. It started this week. It is already changing not only the economy of the United States but the world. It has been a reckless undertaking,…
Mr. President, on a separate topic, I want to address the Trump tariff tax--Trump tariff tax. It started this week. It is already changing not only the economy of the United States but the world. It has been a reckless undertaking, creating pure chaos.
I received a phone call yesterday from a business leader. I won't identify him, but he was desperate. He said to me: President Trump and his people don't understand a supply chain. I am not selling T-shirts, he said. I am selling sophisticated products that require chemicals and electronics that are rare to find. And, sadly, some of the minerals which are desperately needed in my production effort are virtually controlled by China.
Well, naturally, with the battle over the tariffs underway, China has decided to cut off American manufacturers from the availability of those critical chemicals, and that means restraining the production in the United States of some very important and worthwhile products.
He said to me: What am I supposed to do?
I said: I don't know.
I don't know if anybody in this administration has thought through what they have started.
We clearly may reach a point soon--and I hope it happens--where Donald Trump says: Fine, I want to declare victory. We are going to reverse course. It is going to be business as usual between the United States and the world.
I think it is highly unlikely that he will do it, but anything is possible with this man.
This much I do know: The damage Donald Trump has done to the international reputation of the United States is immeasurable. You see the leaders in these countries and what they are saying. They thought that they were close friends and allies of the United States, and now they appear to be adversaries, and there is a strategy underway to punish them.
Canada, for goodness' sake? Is that what the last election was about--our relationship with Canada? I consider Canada not only a good neighbor but a great neighbor, an ally of the United States, a partner of the United States, over and over again, when we have engaged in conflict. And to say now that we are virtually in an economic war with Canada is unimaginable. What is going on with this administration?
And, of course, there are many other countries as well.
The European Union will never be the same in terms of its relationship with the United States. And I can't blame them at all. They are basically saying: We cannot trust the United States' leadership, if Donald Trump can do this to us, in a matter of weeks, as the new President of the United States.
We have seen the tariff in China go from 34 percent to 104 percent, and the Chinese are going to make us pay for that, as they have promised they would.
I am not surprised. If the shoe were on the other foot, that is exactly what
we would be saying too: You can't push us around. We are a sovereign nation.
So what is the difference here between making a speech on the floor of the Senate and actually doing something to impact this tariff war that Donald Trump has started? The difference is four--four Members of the U.S. Senate on the Republican side.
If any four will step forward and say: Enough. We have a constitutional opportunity and responsibility when it comes to tariffs and our dealings with foreign countries, and we, as four Republicans, will join with the Democrats in engaging in a bipartisan discussion over how to go forward from here. If they don't step up--if four Republicans don't step up--then Donald Trump will continue this tariff war at the expense of American businesses and American workers and American taxpayers and our reputation in the world. That much is at stake.
Herbert Hoover signed the Smoot-Hawley law, which imposed tariffs on the world in June of 1930, and then President Hoover went fishing. President Trump signed off on these massive tariffs and went on to play golf at Mar-a-Lago. I don't get it.
This is the most serious economic and trade situation we have faced in modern times. Businesses are desperate looking around at how to resolve this in a fashion to keep themselves in business and to employ critical employees. This is the moment when we should be gathering together and talking about, specifically, where we are headed. But the best I can tell is that we are putting at risk our constancy, our reliability, and the trust of nations all around the world because of this undertaking.
If the President Trump tariff tax continues unabated, it is going to destroy this economy--period, end of quote. We are dealing with many people who feel that we are already in a recession or headed to one quickly.
Will there be four Republicans who will step up and say: Stop. We cannot do this without some thoughtful consideration of what impact it is going to have on our economy?
If four of them will step up in the House and four in the Senate, we can make history together on a bipartisan basis and come up with something that is thoughtful and avoids this terrible chaos and the reckless conduct of this administration to date.
President Trump has played many roles in his career. He played a billionaire real estate mogul on the hot, hit reality show ``The Apprentice.'' On January 6, 2021, he played a cheerleader, ramping up an angry mob of insurrectionists to storm the U.S. Capitol. But his latest role may be the most outlandish. He calls himself a doctor.
On Thursday, after the President's so-called ``Liberation Day'' of tariffs, he took to social media to announce to the world: