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Senator Wyden criticizes double talk on trade in Washington, cites Laffer and Yale budget predictions for Liberation Day tariffs

Senate Finance Committee Ranking Member Ron Wyden says in debate on a joint resolution by Virginia Senator Tim Kaine that would end a national emergency declaration with respect to fentanyl imported from Canada issued by President Trump that he was struck by how much double talk existed about trade and wanted to clarify that tariffs were taxes on things Americans buy from other countries, making products more expensive for consumers since no other country paid these tariffs, with credible economists and businesses stating that Trump's trade taxes would make things more expensive for Americans, including Art Laffer's study showing auto tariffs would raise car prices by $4,700 and Yale Budget Lab estimating the full Trump tariff scheme would cost an average family thousands of dollars per year.
Senate Finance Committee Ranking Member Ron Wyden says in debate on a joint resolution by Virginia Senator Tim Kaine that would end a national emergency declaration with respect to fentanyl imported from Canada issued by President Trump that he was struck by how much double talk existed about trade and wanted to clarify that tariffs were taxes on things Americans buy from other countries, making products more expensive for consumers since no other country paid these tariffs, with credible economists and businesses stating that Trump's trade taxes would make things more expensive for Americans, including Art Laffer's study showing auto tariffs would raise car prices by $4,700 and Yale Budget Lab estimating the full Trump tariff scheme would cost an average family thousands of dollars per year.
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Restrictions:
Editorial Use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing or cast discredit or dishonor any member of the House or bring the House or any Member into disrepute. Contact your local office for all commercial or promotional uses.
Credit:
FedNet / Getty Images
Editorial #:
2208349404
Collection:
FedNet
Date created:
April 02, 2025
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Rights-ready
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Not released.ÌýMore information
Clip length:
00:01:33:47
Location:
Washington, DC, United States
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MPEG-4 8-bit H.264 HD 1280x720 59.94p
Source:
FedNet
Object name:
sfl040225h