'The Trump Tariff Taxes Are Going Up': Chuck Schumer Tears Into Trump's Trade 'Deal' With Japan

Forbes Breaking News

During remarks on the Senate floor Wednesday, Senate Minority Leader Chuck Schumer (D-NY) spoke about President Trump announcing a trade deal with Japan.

Transcript

00:00And on tariffs. Last night, President Trump announced another trade deal, this time with Japan.

00:08Like most of the deals announced over the past month, it was big on promises, short on detail,

00:13and crucially, provided zero relief for American families and small businesses.

00:18Whether it's this agreement with Japan, where tariffs are increasing to 15 percent,

00:24or earlier ones with Indonesia or Vietnam, where tariffs are increasing to 19 and 20 percent,

00:31the Trump tariff taxes are going up, not down.

00:36That means one thing, higher costs for the American family.

00:40Ask an American family if increasing their costs by only, quote unquote, 15 percent is okay.

00:47In the meantime, and by the way, the media, oh, they say, well, there's a great deal.

00:54Because it wasn't as bad as Trump originally proposed, but is still very bad for the American people,

01:00and raises costs 15 percent, American people aren't going to buy that this is a good deal at all.

01:08Good deal at all.

01:09In the meantime, the Trump administration is granting greater access to advanced semiconductor technology,

01:19surrendering to China, higher costs for families and small businesses,

01:23Trump's trade war has been and continues to be a huge failure.

01:30Yield the floor.

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