{"id":48906,"date":"2025-07-31T01:23:06","date_gmt":"2025-07-31T01:23:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/48906\/"},"modified":"2025-07-31T01:23:06","modified_gmt":"2025-07-31T01:23:06","slug":"trump-tariff-policy-continues-to-cause-chaos-in-american-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/48906\/","title":{"rendered":"Trump tariff policy continues to cause chaos in American economy"},"content":{"rendered":"

In the first six months of Trump\u2019s presidency, the US economy slowed as a result of his policies<\/a>. While Trump celebrates that his administration\u2019s economic performance is \u201cBETTER THAN EXPECTED,\u201d American families continue to feel the pain from the impacts of his failed negotiations and increased prices.\u00a0<\/p>\n

\"\"<\/p>\n

Even Fox Business set the record straight on Fox News saying<\/a>: Let\u2019s be real clear here. Tariffs cost, they\u2019re a tax. That tax often gets passed on to consumers.<\/p>\n

Consumers, retailers and the business economy are bracing for the impacts of Trump\u2019s tariffs going into effect in August. Here\u2019s how Trump\u2019s failed tariff policy is impacting all Americans:<\/p>\n

Fewer people are buying goods. Consumer spending is down to only a 1.4 percent annual rate in the second quarter \u2014 well below the 2.8 percent growth in spending in 2024.
\nStockpiling in anticipation of price increases. Trump tariffs are expected to raise prices on groceries and even Trump officials have reportedly started stockpiling<\/a> to prepare for price increases and shortages.
\nPrices are already increasing. Price increases due to tariffs could cost households on average an extra $2,400 in 2025, the Yale Budget Lab predicted in their most recent analysis<\/a>.
\u00a0<\/p>\n

A one-two gut punch for California<\/p>\n

In addition to the national repercussions, Trump\u2019s tariffs are having an outsized impact on California\u2019s economy in recent months:<\/p>\n

Families and workers will bear the brunt. Tariffs could cost households $25 billion and lead to a loss of over 64,000 jobs across California.
\nBusinesses are also paying the price. California firms incurred<\/a> $11.3 billion in tariff costs from January through May 2025, the highest of any state in the country.
\nGlobal supply chains will continue to be impacted, especially here at home. Recently<\/a>, the Port of Los Angeles was operating at only 70% capacity due to ongoing tariffs and Southern California saw a 40% decline in job postings related to trade and logistics.<\/p>\n

\u00a0<\/p>\n

Standing up for California\u00a0<\/p>\n

On April 16, Governor Newsom and Attorney General Rob Bonta filed a lawsuit\u00a0<\/a>arguing that President Trump lacks the authority to unilaterally impose tariffs through the International Economic Emergency Powers Act<\/a>, creating immediate and irreparable harm to California, the world\u2019s fourth largest economy, and nation\u2019s leading manufacturing and agriculture state. Today\u2019s amicus brief was filed as part of a separate lawsuit filed by private parties, but aligns with California\u2019s arguments. The lawsuit is ongoing.
\u00a0<\/p>\n

\u201cAs the country braces for continuous chaos from President Trump\u2019s illegal tariffs, standing united to fight for American consumers and businesses is more important than ever,\u201d said Attorney General Bonta. \u201cToday, I urge the U.S. Court of Appeals for the D.C. Circuit\u00a0 to affirm the District Court\u2019s decision that President Trump\u2019s chaotic tariffs are unlawful \u2014 not one word in the International Emergency Economic Powers Act, the Trump Administration\u2019s vehicle for these tariffs, authorizes tariffs. These illegal tariffs will affect everything from the cost of essential household items like food and toilet paper to the cost of housing. The tariff chaos is a man-made crisis, and California families and industries will pay the price.\u201d<\/p>\n

Today\u2019s brief was filed in Learning Resources, Inc. v. Trump, a lawsuit challenging the tariffs President Trump imposed under the International Emergency Economic Powers Act (IEEPA) and argues that the U.S. District Court for the District of Columbia was correct in holding that the Trump Administration\u2019s interpretation of its authority is unlawful.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"In the first six months of Trump\u2019s presidency, the US economy slowed as a result of his policies.…\n","protected":false},"author":2,"featured_media":48907,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[97,252,253],"class_list":["post-48906","post","type-post","status-publish","format-standard","has-post-thumbnail","category-health-care","tag-health","tag-health-care","tag-healthcare"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/48906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=48906"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/48906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/48907"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=48906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=48906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=48906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}