(The Center Square) – Illinois’ state treasurer is sounding the alarm over the Trump Administration’s trade tariffs on other countries. President Donald Trump recently announced a pause on most of his “Liberation Day” tariffs, which has settled down the stock market after a week of volatility.
Illinois treasurer Michael Frerichs is calling on Congress to take action.
“Right now you’re cowering, letting him go on this reckless spree and as a result, a lot of Americans are scared and losing a lot of money,” said Frerichs. “It is time for you to step up and take the reins back.”
Frerichs said not only is Trump hurting retirement savings, his tariffs will mean higher prices on food and medications for many seniors, who are among our country’s most vulnerable people.
Trump recently announced a pause on most of his “Liberation Day” tariffs which has settled down the stock market after a week of volatility. He is now calling on China to reach out to him in order to kick off negotiations aimed at resolving the escalating trade fight.
“The ball is in China’s court. China needs to make a deal with us. We don’t have to make a deal with them,” said White House Press Secretary Karoline Leavitt, reading what she said was a statement Trump dictated.
U.S. Rep. Mary Miller, an Illinois Republican representing the 15th District, spoke favorably on X of Trump’s tariffs on China.
“The days of America getting ripped off by the CCP are OVER,” wrote Miller.
The White House says it is actively assessing over a dozen trade deal proposals.
The agricultural industry has been on edge since the tariffs were announced.
“American farmers heavily rely on our crucial trading partners to export and import crops and goods and the administration’s trade policy throws the entire agricultural industry and billions of exports and imports into uncertainty,” said the group Americans for Responsible Growth in a statement.
Tariffs have not only been a hot topic at the watercooler at work, but now it appears it will be a hot topic in court.
The Liberty Justice Center is representing small businesses in a lawsuit that alleges that Trump has illegally overstepped Congress’ power to levy tariffs by claiming trade deficits are a national emergency. The lawsuit notes that the Administration imposed tariffs even on countries with which the U.S. does not have a trade deficit, further undermining the administration’s justification.
