Steven Horsford Warns Of ‘Looming Recession’ For Americans As A Result Of ‘Trump’s Trade War’

2 days ago

At a House Dads Caucus press briefing on Tuesday, Rep. Steven Horsford (D-NV) slammed President Trump’s tariff policies.

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Transcript

00:00Well, good morning. It's an honor to be here with my colleagues from the Dads Caucus.

00:05I want to thank Congressman Jimmy Gomez, also on the Ways and Means Committee,

00:10because we're just trying to bring attention to a very simple but true fact,

00:16and that is life is already too expensive for families,

00:21and dads are bearing a part of that brunt as well.

00:25Barely two months ago, Donald Trump inherited an economy at record highs.

00:32Back then, our allies still considered us friends,

00:36our trading partners still considered us trustworthy,

00:39and working families still had confidence in the future they were building for themselves and their loved ones.

00:46We're here right now, barely two months later, because none of that is true anymore.

00:51A tariff is a tax, and Donald Trump owns these erratic taxes.

00:59But here's the catch. A tariff is also a tool.

01:02They can be used to protect our workers and our communities.

01:06Trump's choosing to use them to crash our economy instead, and that is terribly unfortunate.

01:14This president campaigned in Nevada on lowering prices, but how is he governing?

01:23Groceries cost more. Appliances will cost more.

01:26Cars will cost more. Clothing will cost more.

01:29And there are open discussions about a looming recession that wasn't even on the horizon when we started this year.

01:37There are studies that show that Trump's tariffs will cost the American family an average of about $3,800 in lost purchasing power each year.

01:49Nevadans expect competence from their government.

01:53Nobody is sitting around eager to waste or spend another $3,800 on Trump's trade war.

02:00In Las Vegas, we're already grappling with higher prices in a housing crisis.

02:05Housing prices dramatically outpace income growth.

02:09In fact, nearly half of all renters spend 35% or more of their monthly income on housing.

02:17For extremely low-income renters, we only have about 14 units for every 100 households who need one.

02:25That's the lowest in the nation by far.

02:28And where incomes have gone up, housing prices have gone up two and a half times more.

02:34So we desperately need more housing.

02:37That's what Congress and this president should be focusing on.

02:41But instead, these tariffs on steel and aluminum, both of which come from Mexico and Canada, are working against us when we talk about the housing affordability crisis.

02:52Right now, the Las Vegas Valley is seeing anywhere from 10% to 15% increases in material costs, with some projections up to 25% in the coming weeks.

03:04That impacts budgets, it impacts timelines, and it impacts who will ultimately be able to afford a home.

03:12There's nothing political about a harmful policy.

03:16This isn't about right versus left.

03:19It's about right versus wrong.

03:21These blanket tariffs are wrong.

03:24And the president, Donald Trump, is wrong for enacting them.

03:29Nevadans deserve better.

03:30The American people deserve better.

03:32And that is why the Dads Caucus is here, because every dad, every parent, in fact, deserves better when it comes to the country that we're leaving our children.

03:42So thank you to Chairman Gomez for your leadership, for bringing us together, and to my colleagues for making sure that we have this opportunity.