Senator Elizabeth Warren is making an appeal to her Republican counterparts in Congress to address President Donald Trump's tariff policies. Speaking on the Senate floor, Warren, who serves as the Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, criticized Trump's recent tariff decisions, describing them as chaotic and damaging to the economy.
"Donald Trump is taking a sledgehammer to our economy," she remarked, highlighting the uncertainty these tariffs have caused for businesses and working individuals. She noted that prices are rising and investors are apprehensive.
A recent change in tariffs—a reduction to 10% across the board while increasing tariffs on China to 125%—was cited by Warren as a cause of confusion and instability. She expressed concern that President Trump's actions might be manipulating the market for personal gain. "We need an independent investigation into market manipulation," she argued, seeking accountability for potential actions benefitting Trump's allies at the cost of ordinary Americans.
Warren indicated that the Republicans in Congress have the opportunity to address this situation. She mentioned a bipartisan resolution proposed by her and Senator Ron Wyden intended to counteract what she described as Trump's "fake emergency authority" for imposing these tariffs. "Why aren’t we passing that resolution, this instant?" Warren questioned.
Her comments also referenced past economic crises, comparing the current tariff situation with the 2008 mortgage crisis and the 2020 pandemic economic fallout. Warren placed blame on Trump's decisions for current economic distress.
The speech drew commentary from Republican Senators. Senator John Kennedy likened tariffs to whiskey: "A little whiskey, under the right circumstances, can be refreshing—but too much whiskey, under the wrong circumstances, can make you drunk as a goat." Senator Thom Tillis highlighted farmer struggles, and Senator Ted Cruz voiced opposition to increased taxes on American consumers.
Warren criticized the Senate Majority Leader John Thune and Speaker Mike Johnson for their inaction, pointing out, "They sit on their hands while millions of Americans...are wondering when Republicans in Congress are going to step up and do something." She criticized the confirmation of Paul Atkins for SEC chairman rather than taking action on tariffs, describing Atkins as having failed to prevent past financial crises.
In closing, Warren urged Republicans to stand with Democrats to counter Trump's tariffs and act in the interest of the American people. "Republicans in Congress have a choice to make," she concluded, encouraging action to prevent further economic harm.