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From tariffs to opening the door for big corporations to price gouge, Trump is raising costs for working families 

WASHINGTON, DC – As President Trump’s 25 percent tariffs on goods from Canada and Mexico are set to go into place today, a reminder that Trump himself admitted that American families could experience “some pain” under his tariff plan—meaning higher prices on everything from groceries to cell phones. Let’s be clear: these tariffs are a tax on working families to the tune of $1,200 per year on average. 

He and his billionaire allies don’t care. JPMorgan CEO Jamie Dimon and Elon Musk told Americans to “get over” and endure “hardship,” respectively – all in the name of Trump’s agenda. 

Today’s tariff news is only the latest example of how Trump and Republicans in office are betraying their commitment to lower costs for American families. 

While working families lose, big corporations and his billionaire donors win. Here are just a few examples of actions the Trump administration has taken to help his friends and hurt you: 

  • On day one of his Administration, Trump took executive action to undo efforts to lower prescription drug costs, a top wish list item for PhRMA and big drug companies. 
  • Just this weekend, Trump’s IRS announced that it would take steps to lax rules that let billionaires evade taxes abroad – a gift to billionaires everywhere, including Trump’s top aide, Elon Musk. 
  • Musk has been shameless in his disinterest in the federal programs Americans rely on, calling Social Security a “Ponzi scheme,” while Treasury Secretary Lutnick has openly floated eliminating the IRS.
  • And the Republican tax plan endorsed by Trump will require devastating offsets to pay for tax cuts for billionaires and corporations. $880 billion has been floated in cutting Medicaid – the health care tens of millions of Americans rely on, alongside cuts to SNAP, housing programs, and sunsetting ACA premiums that make healthcare more affordable.  
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Today’s tariff announcement is the latest gut punch to every single American feeling the price crunch under President Trump and a betrayal of his promise to lower costs for Americans. Make no mistake: the rising costs for Americans are not isolated to the tariffs announced today – Trump and Republicans continue to make very clear their intent to cater Washington policy to the richest, while everyday Americans pay the price. Perhaps most devastating are the close to a trillion in cuts to vital programs like Medicaid that Trump has endorsed as a part of Republicans’ tax plan to lower taxes for the richest. Alongside Elon Musk and empowered by billionaires that tell Americans to “get over” rising costs, Trump’s tariffs betray a basic commitment every president has to the American people: make their lives better.”

Accountable.US Executive Director Tony Carrk.
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