House Minority Leader Hakeem Jeffries (D-N.Y.) on Monday accused President Trump of intentionally damaging the economy through aggressive tariffs to benefit wealthy donors. Jeffries called the policy “reckless” and lacking strategic intent.
“The only conclusion that one can draw is that Donald Trump and the Republicans are intentionally tanking the economy,” Jeffries said, pointing to Trump’s past remarks that downturns are “buying opportunities” for the rich.
Last week, Trump imposed broad tariffs on numerous countries, triggering a two-day selloff that wiped out over $6 trillion in U.S. market value. He defended the tariffs as part of a long-term plan to revive domestic manufacturing and encourage foreign investment.
Trump posted online, “This is a great time to get rich, richer than ever before!!!”
Jeffries said Democrats support targeted tariffs but called Trump’s approach an “economic sledgehammer” hurting consumers and businesses. He promised that if Democrats retake the House, they would seek to roll back harmful tariffs through legislative means.
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