Prices are skyrocketing, working families are struggling to get by, farmers are seeing record profit losses, and businesses of all sizes are suffering — all thanks to Donald Trump’s inflationary trade war. Economists are sounding the alarm over stagflation and warning that consumers will bear the brunt of Trump’s reckless agenda. 

Meanwhile, Trump is chickening out (again) and giving China a second extension, meaning that the worst is far from over. So much for the “art of the deal.” 

In response, DNC Rapid Response Director Kendall Witmer released the following statement:

“Donald Trump’s trade war has wrecked the economy. Despite his promise to ‘lower costs on Day One,’ Americans are watching everyday items get more and more expensive — and experts are warning it’s only going to get worse. Now, Trump is prolonging his unaffordable trade war because he can’t cut a deal. The American people have watched Trump repeatedly fail to secure trade deals, all while he causes prices to rise and has no plan to lower the cost of living. Trump’s economic agenda is clear: Billionaires get massive tax handouts while working families get jacked up prices. Trump never cared about Main Street — his unaffordable agenda is just the latest example.” 

Trump’s reckless trade war is already wreaking havoc on consumers and small businesses and causing prices to rise even higher. This week alone: 

🥤AriZona’s CEO is warning that Trump’s tariffs will force him to raise the price of their iconic 99-cent cans. 

👟Crocs is cutting back production for the second half of the year, thanks to Trump’s chaotic economy, as the CEO warns consumers are “behaving cautiously around discretionary spending” in today’s “concerning” economic climate. 

🍔Wendy’s posted larger-than-expected losses as consumers cut back spending. 

🚜Farmers are suffering under higher costs for everything from tractors to fertilizers, as family farms go bankrupt at the highest rate since the pandemic. 

💲Small businesses are being forced to raise prices as Trump’s trade war costs small business importers a combined $202 billion a year. 

Economists are warning that the situation is set to get worse the longer Trump’s reckless trade war goes on, with U.S. consumers set to shoulder up to 67% of tariff-related costs as inflation accelerates. 

Americans are losing their jobs, the country is bracing for a recession, and investors are overwhelmingly warning that stagflation is taking hold — all thanks to Trump’s failing economic agenda. 

Let’s not forget how we got here. Trump repeatedly moved the goalposts on his trade war, unleashing chaos on the domestic and global economies. Despite his promise to sign 90 deals in 90 days, Trump spent months chickening out, delaying deadlines, and signing zero real deals. Trump’s own trade team couldn’t even agree on a deadline in the first place. Now, his “rushed [and] incomplete” trade deals are set to unleash an economic catastrophe on Americans. 

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