Gottheimer fights back against President Trump’s tariffs

NEW JERSEY — Ahead of President Trump’s sweeping tariffs taking effect on Wednesday, U.S. Congressman Josh Gottheimer (NJ-5) Monday joined local business leaders in Westwood to announce new action to protect Jersey families, small businesses, and farmers from higher costs and to make life more affordable.

Gottheimer announced new legislation that would require the President to submit a clear strategy to Congress to justify imposing tariffs for emergency purposes.

The President recently announced additional tariffs on every nation, including U.S. allies and trading partners.

“In just a few days, on April 3, President Trump’s proposed sweeping tariffs will go into effect — imposing, in effect, a huge new tax of about $2,000 a year on Jersey families and businesses. When asked about the impact of auto prices on our wallets, Trump said he ‘couldn’t care less.’ Instead, he wants to double down on reckless and chaotic policies. None of this makes our country stronger — it only raises costs across the board,” said Gottheimer. “When it comes to tariffs, we need a targeted approach that doesn’t put the bullseye on our own economy. From the beginning, I have been laser-focused on making life more affordable for Jersey families. The President’s planned sweeping tariffs, including on our key trading partners and allies, will do just the opposite.”

The effects of President Trump’s tariffs:

• Data shows that President Trump’s tariffs will mark the largest tax hike on families in a generation — imposing a new tax of about $2,000 a year on Jersey families and businesses.
• According to the Bipartisan Tax Foundation, the U.S. economy is set to lose 600,000 jobs due to Trump’s tariffs.
• Last week, the Federal Reserve released new data predicting lower growth and higher inflation for this year — in what Chair Powell has called “tariff inflation.”
  • Goldman Sachs estimates the economy will grow this quarter at an annual rate of just 0.6%, down from a rate of 2.4% at the end of last year.
• President Trump’s tariffs on cars could increase new-car prices anywhere from $3,500 to more than $12,000.
• The President has also threatened a 10%tariff on Venezuelan and Canadian oil, which is estimated to raise gas prices by 20 cents a gallon.
• Canada has already announced 25% reciprocal tariffs on U.S. goods.
  • New Jersey sells more goods to Canada than its next three largest foreign markets combined — totaling $8.4 billion in exports annually, all of which are now under threat.
• Tariffs will cost American farmers billions of dollars, between an expected drop in exports as high as 10% and the skyrocketing cost of fertilizer.
  • 85% of fertilizer is imported from Canada.
• 64% of Americans agree the President is not doing nearly enough to lower prices.

Gottheimer’s Plan to Fight Abusive Tariffs:

• First, Gottheimer is introducing the Reclaiming Congressional Trade Authority Act, to require the President to submit a clear strategy to Congress to justify imposing tariffs for emergency purposes.
• Second, Gottheimer is helping introduce the Prevent Tariff Abuse Act, which clarifies current law to make it explicitly clear that the President cannot impose tariffs under the guise of a national emergency without congressional approval.
• Gottheimer also joined 46 of his colleagues in a letter calling on President Trump to reconsider the 25% tariffs on imported building materials from Canada and Mexico.
  • These tariffs will only further inflame housing costs and prevent the construction of new homes.
• Gottheimer is announcing a new online portal where Jersey families and small businesses can make their voices heard on how tariffs are hurting them.
  • Gottheimer will send these comments to the White House and U.S. Trade Representative to help ensure Jersey voices are heard.