Americans continue to bear the cost of Trump’s chaos | Editorial

Last April, Donald Trump announced what will go down as one of the dumbest economic policy decisions in American history.

Nearly every economist told the president that tariffs imposed using the International Emergency Economic Powers Act were a loser — with disagreement coming mostly from how bad their impact would be — and the administration was warned the move was likely unconstitutional.

Trump pushed on anyway, causing Americans to spend millions more for goods.

Now, a year after the president’s so-called Liberation Day tariffs began, it is time for the government to repay more than $166 billion in duties that were struck down by the U.S. Supreme Court.

So much for making America wealthy again.

Even after being rebuffed by the court, Trump enacted new tariffs, which are expected to cost the average U.S. family more than $2,500 this year — a 43% increase from the $1,745 average estimated during the first year of his second term, according to data recently released by the Joint Economic Committee.

Small-business importers paid an average of $306,000 more per business in tariffs.

All for nothing.

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A year of economic chaos just so Trump can go on a power trip. But that is what Trump’s second term is shaping up to be.

Jeremy Siegel, professor emeritus of the Wharton School of the University of Pennsylvania, called Trump’s tariffs the “biggest policy mistake in 95 years,” alluding to the 1930 Smoot-Hawley Tariff Act.

The 1930 measure raised import duties on more than 20,000 goods by 50% to 100%, aimed at protecting American farmers and industries from foreign competition during the Great Depression. It backfired, triggering retaliatory tariffs from other nations, causing a 26% drop in global trade and worsening the economic downturn.

Trump’s tariffs have added about $20,000 to the price of a new home. They have increased the cost of clothes by 14%. Household furnishings, cleaning supplies, and toilet paper are up at least 5%.

Tariffs increased food prices on a host of items, including beef, up 16%, coffee up nearly 20%, and seafood up over 6%.

The president claimed tariffs would magically revive American manufacturing. In fact, nearly 100,000 U.S. manufacturing jobs have been lost since the start of Trump’s second term.

To add warmongering to injury, Trump’s conflict with Iran has added to the cost pressures on consumers. Gas prices jumped above $4 a gallon. Energy Secretary Chris Wright told CNN Sunday that gas wouldn’t drop below $3 a gallon until next year.

Thanks to Trump’s war of choice in Iran and tariffs, consumer confidence dropped to its lowest level since 2014.

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Meanwhile, Trump keeps threatening to commit war crimes in Iran, while his administration’s diplomatic efforts amount to the Three Stooges, with Vice President JD Vance, Trump’s son-in-law, Jared Kushner, and New York developer Steve Witkoff charged with negotiating peace.

Trump’s shortsighted policies, rogue tactics, and erratic leadership have caused major allies to see the U.S. as unreliable and destabilizing. Trump is causing harm around the world, and yet expects the international community to help him out of the mess he created in Iran. Few allies have heeded his call.

For all his tough talk, America has never looked more incompetent or weaker.

In his concurrence with the high court opinion that the president exceeded his authority when he imposed sweeping tariffs, Justice Neil Gorsuch, a Trump appointee, reminded legislators of their responsibility to represent the people. Yet, the Republicans who control Congress have stood aside as Trump flails around with no clear plan.

Fortunately, many Americans are now paying attention. Trump and his policies are highly unpopular, and two-thirds of U.S. adults disapprove of his handling of inflation and the Iran war. Even the MAGA coalition is beginning to fray in the face of White House chaos and broken promises.

As the midterm elections approach, voters seem intent on sending the message that America can no longer afford the cost of an unchecked Trump presidency.