In response to Donald Trump changing his mind on his unaffordable national tax yet again, DNC Chair Ken Martin released the following statement:

“What the hell is Donald Trump doing? Trump is once again throwing our economy into chaos on a whim, leaving hardworking families with sky-high costs and small businesses to suffer. It’s past time Trump realizes the economy is serious business — not a game of chicken.” 

NEW: Trump once again flip-flopped on his own unaffordable national tax — less than a day after Trump’s Commerce Secretary swore there were no changes coming — throwing small businesses and the American economy into chaos. 

Bloomberg: “The US confirmed it’s extending the tariff pause on some Chinese goods to Aug. 31. The dollar tumbled to its lowest since 2023 on the latest trade developments.” 

BBC: “Trump’s tariffs ‘not going away’ as deadline for deals looms, top adviser says”

“US President Donald Trump is not planning to extend the pause to his sweeping global tariffs, Commerce Secretary Howard Lutnick said.” 

USA Today: “President Donald Trump has bemoaned a new acronym that has been used to describe his approach to tariffs.

“Financial Times columnist Robert Armstrong coined ‘TACO trade’ in May, describing how some investors anticipate market rebounds amid Trump’s on-again, off-again tariff policies. … 

“The acronym stands for ‘Trump always chickens out.’”

Mint: “21 times Trump changed his mind about tariffs since February 7, a curated list of events” 

New York Times: “A Timeline of Trump’s On-Again, Off-Again Tariffs” 

“Mr. Trump’s strategy has already upended diplomatic ties, shaken markets and confounded entire industries. The tariffs target nations that supply a wide variety of goods to the United States, and Americans are likely to see higher prices on cars, electronics, groceries, liquors, lumber and gas as a result.” 

Trump’s messy and chaotic agenda is hurting small businesses and raising prices on working families. 

CNN: “Small businesses struggle under Trump’s tariff whiplash: ‘I’m so angry that my own government has done this to me’” 

“For some small businesses, the last week brought even more twists and turns to the past two months of President Donald Trump’s chaotic tariffs. …

“The confusion has made it challenging for some small companies to plan, business owners told CNN. In certain cases, they have had to consider changing their product strategy, looking into shifting their supply chains, reducing staff hours or delaying products.

“The whiplash has been hard for companies to keep up with. Even major brands like apparel giant Gap are feeling the impact of tariffs, but small companies with far fewer resources are in an even tougher spot. The National Federation of Independent Business Small Business Optimism Index fell by 1.6 points in April, dipping below the 51-year average for the second consecutive month. The organization’s chief economist, Bill Dunkelberg, cited uncertainty as a ‘major impediment’ for small business owners in a press release.” 

MSNBC: “‘Cleanup on aisle six’: Even Karl Rove thinks Trump’s tariff policy looks like a mess”

Axios: “More than 70% of U.S. small and mid-sized businesses say tariffs have already increased their operating costs … 

“72% of U.S. companies said tariffs have already increased their costs, and 77% expect those costs to rise further by the end of the year.” 

CNBC: “Here are the retailers raising prices as Trump tariffs take hold” 

Associated Press: “John David Rainey, [Walmart’s] chief financial officer, emphasized that prices are going up on many necessities. The price of bananas, imported from Costa Rica, went up to 54 cents per pound from 50 cents per pound, for example. And he thinks that China-made car seats, which currently sell for $350 at Walmart, will likely go up another $100.” 

USA Today: “Ford Motor Co. is hiking prices … becoming one of the first major automakers to adjust sticker prices in response to President Donald Trump’s tariffs.”

Reuters: “Exclusive: Subaru of America increases vehicle prices, citing market conditions” 

A majority of Americans are rejecting Trump’s failed economic agenda — and expect things to get worse. 

• Only 39% of Americans say the economy is on the right track, and just 36% approve of Trump’s handling of the economy 
• 63% expect Trump to make inflation worse over the next year 
• 76% of Americans say their income is not keeping up with inflation
• Trump’s approval rating on inflation remains deeply underwater at -17.5%
• Only 33% approve of Trump’s handling of the cost of living