Pelosi Statement on President Trump's Senseless Tariffs

Philadelphia – Speaker Emerita Nancy Pelosi issued this statement on the Trump Administration’s global tariff policies:

“The Trump Administration's flagrant ineptitude is tanking our economy in a self-inflicted disaster that leaves hardworking American families bearing the brunt of the pain.

“Make no mistake: President Trump's senseless tariffs will drive prices higher, drain retirement savings and push us to the brink of recession.

“In 1988, President Ronald Reagan said, 'America's most recent experiment with protectionism was a disaster for the working men and women of this country. When Congress passed the Smoot-Hawley tariff in 1930, we were told that it would protect America from foreign competition and save jobs in this country. The actual result was the Great Depression.'

“He continued: 'We should beware of the demagogues who are ready to declare a trade war against our friends – weakening our economy, our national security, and the entire free world – all while cynically waving the American flag.'

“President Reagan’s words were true then and they’re true today. Hopefully Trump and our Republican colleagues will heed his wisdom.”