(The Center Square) – Illinois Democrats are criticizing the latest round of tariffs announced by President Donald Trump.
Saying the U.S. can no longer continue with a policy of economic surrender, Trump announced reciprocal tariffs that include a 10% baseline tax on imports from all countries, and higher tariff rates on dozens of nations that run trade surpluses with the U.S.
“If you want your tariff rate to be zero, then you build your product right here in America because there is no tariff if you build your plant or product in America,” Trump said Wednesday.
Trump held a chart which he said showed what the U.S. pays in tariffs to other countries, including 67% to China, 72% to Thailand, and a 90% tariff to Vietnam.
Illinois U.S. Sen. Dick Durbin, D-Springfield, took to the Senate floor to voice his opposition, saying the president is risking a recession with this national sales tax he calls tariffs.
“The Trump administration has created chaos in our economy,” said Durbin. “The president campaigned on lowering prices for American families, unfortunately his policies and actions have done the opposite.”
Durbin has joined Democrats in voting for a measure that would repeal the emergency declaration that permitted Trump to levy tariffs on Canada by citing fentanyl flowing across the border. The resolution likely won’t survive the GOP-controlled House.
Gov. J.B. Pritzker, who spent the past few days in Mexico working on trade deals, said tariffs are “a tax on working families, a tax on groceries and a tax on everyday necessities.”
The Dow Jones Industrial Average was down as much at 1,500 points and NASDAQ lost 5% after the latest round of tariffs were announced.
The Illinois Manufacturers Association released a statement following the announcement.
“The new tariffs announced today will increase the cost of manufacturing products in America, threatening competitiveness and resulting in even higher prices for consumers. The impacts of these tariffs will be felt greatly throughout Illinois, which is the fourth largest exporter in the United States,” said president and CEO Mark Denzler.
According to the White House, the new tariffs could raise $600 billion a year.
Several nations, including Chica, Canada and South Korea, have pledged hefty retaliatory measures in response to the tariffs.
