Donald Trump waged a reckless trade war that sent the economy into a tailspin and hiked prices for families, farmers, and small business owners — and he continues to double down.
Just recently, Trump waged a new trade war with Canada, drawing bipartisan backlash even from Republican lawmakers who conceded Trump’s policies will harm consumers, farmers, and small businesses. Canada is the U.S.’ second-largest trading partner and Trump’s tariffs are expected to worsen economic conditions in states that are already struggling to keep up under Trump’s disastrous agenda.
REMINDER: When asked what his “big message” is on the economy, Trump said, “tariffs have been incredible.”
After the Supreme Court ruled his tariffs illegal earlier this year, Trump announced he would sidestep the Court’s decision and “do it in a different manner” by imposing new tariffs on 86 countries that will cost U.S. businesses and consumers $53–$55 billion annually.
American consumers and businesses have already shouldered 96% of the costs of Trump’s initial tariffs, and have paid an additional $3,800 on goods and services under Trump, largely because of his tariffs and war with Iran. A recent report found that Trump’s tariffs are expected to cost U.S. households more than $1,000 per year.
Trump’s tariffs have also decimated the agricultural sector and locked farmers out of critical markets. Under Trump, farmers growing nine principal crops are projected to lose $32 billion in 2027 without federal assistance, compared to $31 billion in 2026. To make matters worse, nearly one in four farmers expect their farms to be financially worse off a year from now, and 55% said federal policies over the previous year had hurt them, compared to 19% who said they had helped.
Nearly 60% of Americans disapprove of Trump’s new tariffs, and nearly 80% of Americans believe Trump is not focused enough on lowering prices.
