Senate Minority Leader Chuck Schumer came to a restaurant in Albany this morning to call attention to the local impacts of President Trump’s trade policies.
Schumer says President Trump’s tariffs are "chaotic and self-destructive" and said Albany families are facing nearly $5,000 more in increased costs a year.
He says restaurants like downtown spot Yono’s face going out of business.
“And what does that mean," asked Schumer. "It means they cut back. So buying that new car? Better not do that. I'm paying more for meat and fish and potatoes and eggs. Better not take that trip cross country to see our kids. Paying too much already here. So it just slows down the economy in every way. And we're pointing out many of the ways, and today I'm particularly focusing on restaurants. Now, just to give you some numbers, more than 14,000 New Yorkers across the Capital Region, 4,400 in Albany are in industries directly targeted by the tariffs, but there are tens of thousands more. That doesn’t include the tourist industry.”
The Democrat says the tariffs are a tax increase on the Capital Region and all of upstate New York.
Yono’s owner Dominick Purnomo warned of the negative impact of proposed retaliatory tariffs on the restaurant and food service industry.
"An industry that accounts for $1.6 trillion or roughly 4% of the entire GDP of the United States," Purnomo said. "One in 10 jobs in the US, 15.1 million in total, is in the food service industry, making it the nation's second-largest private sector employer, yet the proposed retaliatory tariffs on imports from key trading partners like Canada, Mexico and China, threaten to destabilize this vital sector, which has struggled to regain its footing since the COVID-19 pandemic. These tariffs will make it harder and more expensive to source the high-quality ingredients and goods our guests have cherished for nearly four decades, driving up costs to the tune of $12.1 billion in disrupting supply chains worldwide.”
Trump argues the country has been taken advantage of by trade partners, and he says the tariffs will restore order for American businesses and consumers in the long-term. His administration argues the trade policies will eventually grow American manufacturing and force countries like China to come to the table with concessions.
Schumer noted it's estimated that the average person in America could have seen as much as $100,000 of loss in their retirement accounts because of Wall Street volatility tied to the tariff announcements.
“Enough is enough, and I'm announcing that when the Senate returns, we will force a vote on a resolution to end Trump's tariff war once and for all," Schumer declared. "Again, I will be forcing a vote, which we're entitled to do under the rules of the Senate, to eliminate to end this Trump tariff tax once and for all and American families, restaurants manufacturers will be able to breathe a sigh of relief if we can get that done.”
Schumer says the Senate previously passed a bipartisan resolution terminating Trump's national emergency that justifies the tariffs on Canada, which he says the House needs to vote on.
Schumer says he also plans to introduce a motion on the floor to prevent tariffs if grocery prices increase.
