Sen. Elizabeth Warren slams Trump tariffs: 'This is the dumbest trade war in history'

Key Points

  • Sen. Elizabeth Warren criticizes President Trump's tariff policies, calling them the "dumbest trade war in history" and warning of potential global economic downturn.
  • Warren is collaborating with bipartisan lawmakers to restore Congress's authority over tariffs, supporting the "Trade Review Act of 2025" which requires Congressional approval for presidential tariffs.
  • Wall Street CEOs like Jamie Dimon and Larry Fink express concerns over the economic impact of Trump's tariffs, with fears of a recession already underway.
  • Despite negotiations with countries like Japan, skepticism remains about the stability and long-term effects of Trump's trade policies.

Summary

Sen. Elizabeth Warren has voiced strong opposition to President Trump's tariff policies, labeling them as chaotic and potentially disastrous for both the U.S. and global economies. She is actively working with both Democratic and Republican lawmakers to reassert Congress's constitutional authority over tariffs, which has been largely delegated to the president over the years. Warren supports the "Trade Review Act of 2025," a bipartisan Senate bill that would limit the president's unilateral power to impose tariffs without Congressional approval within 60 days. Despite Trump's threats to veto this legislation, Warren remains hopeful that with enough Republican support, Congress can stabilize the economy. Meanwhile, Wall Street leaders like Jamie Dimon of JPMorgan and Larry Fink of BlackRock have expressed concerns about the ongoing economic weakening due to these tariffs, with some CEOs suggesting that a recession might already be in progress. The economic backdrop is further complicated by the Federal Reserve's efforts to manage inflation, making the situation even more precarious.

yahoo
April 9, 2025
Stocks
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