During remarks on the House floor, Rep. Ro Khanna (D-CA) tore into President Trump's series of tariffs and their economic impact.
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NewsTranscript
00:00Mr. Speaker, the stock market is decimated, almost 20% down, entering beer territory.
00:07At the same time, bond yields are skyrocketing, meaning ordinary Americans are going to have
00:13higher interest rates on their credit cards and their mortgages. It means we're going
00:17to have to pay more on our debt. At the same time, the dollar is declining and prices are
00:23going up, meaning it's going to be harder to afford groceries. Mr. Speaker, this is
00:28the most self-destructive, wealth-destroying policies any administration has undertaken
00:34in modern American history. They have tariffs at 1909 levels at 22.5%, making a global trade war.
00:46Businesses have lost confidence. There is only one way out. We need a reset of this president's
00:53economic team. Howard Lutnick was talking about building more screws in America as
00:58if we're living in the 19th century, needs to go. We need new economic thinkers with this
01:03president who actually understand how the economy works and can turn things around.
01:08The gentleman's time has expired. For what purpose