ICYMI — Trump Trade War Hurting Hard-Earned Savings of Millions of Americans, Causing Turmoil Among U.S. Businesses

WASHINGTON, D.C. — President Trump's chaotic trade war continues to wreak havoc on the stock market and the entire U.S. economy, with the Trump administration now raising tariffs on steel and aluminum imports to 25 percent.

Just yesterday, Trump again escalated the trade war with Canada by announcing that he would double tariffs on Canadian steel and aluminum, before backing down just hours later amid continued backlash. This kind of unpredictable behavior from Trump isn't just creating instability—it's actively destroying billions in American wealth, as evidenced by the immediate stock market nosedive his actions provoked.

Here's what Americans across the country are reading about Trump's destructive trade war as it crushes consumers' wallets, wipes out Americans' hard-earned retirement savings, and inflicts lasting damage on the economy:

Consumers Face Higher Prices, Fewer Choices

• ABC News: Trump's Tariffs Will Likely Raise Prices For U.S. Consumers, Fed Chair Says

• CBS News: Trump Tariffs Will Mean Higher Prices For U.S. Consumers, Major Retailers Say

• Roll Call: As Trump Ups Trade War, Canada Tariffs Could Hit Consumers In Unexpected Ways

• The New York Times: American Farmers Brace for Harm From Retaliatory Tariffs

• Reuters: U.S. Farmers Face Higher Costs, Fewer Markets From Tariffs, Farm Groups Warn

• The Hill: Republicans Worry Trump’s Tariffs Could Harm Economy

Retirement Accounts Taking Major Hits From Trump’s Chaos

• Global News: Trump Officials Defend Tariffs As Market Turmoil Hits Savings, Retirements

• Reuters: U.S. Stock Market Loses $4 Trillion In Value As Trump Plows Ahead On Tariffs

• The Associated Press: As Trump Presses On With Trade War, Stock Market Takes Its Deepest Dive Of The Year

• NPR: Stocks sink again, as Trump's tariff policies spark chaos

Business Leaders Sound Alarm As Uncertainty Grows

• The Washington Post: Trump Trade War Confounds CEOs, Deepening Economic Unease

• Axios: "Chaos": How American CEOs Are Reacting to Trump Tariffs

• Reuters: Businesses Sound Alarm As Trump Tariff Chaos Hits The Economy

• Fortune: Tariff Uncertainty Hangs Over Investors and CFOs

If you’re interested in speaking with Americans for Responsible Growth Executive Director Dave Wallack or a state treasurer about our work, please email Ryan Thomas at press@focalpointstrategygroup.com.