GOP senator claps again at Trump tariff price projections: ‘Uncharted waters’

Whereas senators Chuck Schumer, D-N.Y., and Ben Ray Luján, D-N.M., cited economists’ projections that President Donald Trump’s tariffs will price American households an additional $5,000 per 12 months, GOP Sen. John Kennedy, R-La., insisted, “We do not know,” suggesting those that declare they do are making fools of themselves. 

“I adopted what all these economists are saying. Most of them make these late-night psychic hotlines look respectable,” Kennedy informed Fox Information Digital on the Capitol. “They do not know any greater than anyone else. We’re in uncharted waters right here.”

In line with Schumer and Luján, Individuals can seemingly count on to see prices rise sufficient to equate to a $5,000 per 12 months tax on American households.

STEPHEN MILLER SAYS AMERICANS HAVE TO UNDERSTAND HOW ‘BADLY’ WE’VE BEEN RIPPED OFF AS A COUNTRY

President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs throughout a “Make America Rich Once more” occasion within the Rose Backyard on the White Home in Washington, D.C., April 2, 2025.  (Brendan Smialowski/AFP through Getty Photographs)

“When the common American household sits down and tries to determine how they will pay for issues, and so they hear they could pay $5,000 greater than they’ve needed to pay earlier than — and so they might not be capable to purchase a brand new automotive, they could not be capable to assist that new drug that grandma wants, they could not be capable to take that trip they have been planning for a 12 months — they will be outraged,” Schumer informed reporters. 

“It is an enormous tax on American households. All – all – to assist billionaires get a tax minimize.”

Luján seconded the sentiment from Schumer, pointing to the economists that Kennedy blasted as much less respectable than a “late-night psychic hotline.” 

TRUMP’S CHINA TARIFFS FACE LEGAL CHALLENGE FROM CONSERVATIVE GROUP CALLING THEM ‘UNLAWFUL’

“There isn’t any query that the American individuals are those which might be going to be paying the brunt of this,” Luján argued. “The actuaries which have been placing out experiences and different economists are suggesting that that is going to be a nationwide gross sales tax on the American folks of about 5,000 bucks 12 months. That is simply not proper.

“If the president could be open to utilizing focused tariffs as a instrument — one thing that I am open to and I believe others are — that is one factor,” Luján added. “However when he is arbitrarily simply going throughout the board and attempting to slap on numbers … I am very involved for my constituents which might be going to be paying out of pocket.”

Sen. Chuck Schumer, D-N.Y.; Sen. John Kennedy, R-La.; and Ben Ray Luján, D-N.M.  (Gettty Photographs; Fox Information)

CLICK HERE TO GET THE FOX NEWS APP

Kennedy argued such projections had no foundation actually.

“The reality is we do not know. These economists do not know,” Kennedy insisted. “These are uncharted waters. We have not had these form of tariffs in a very long time. It might be a web optimistic. President Trump applied tariffs in his first time period. Did not appear to harm the economic system. It may very well be a unfavourable. All I am saying is that in Washington, D.C., for each economist, there’s an equal and reverse economist, and so they’re often each fallacious.”