Rep. Brendan Boyle (D-Pa.) said on Sunday that the negative consequences of President Trump’s economic policies have already begun to take effect.
“You know, the reality is, as the data from the Atlanta Fed recently showed, the Trump slump has already begun,” Boyle told MSNBC’s Jonathan Capehart, pointing to data last week showing a -2.8 percent annualized growth in the first quarter.
“And it is not a natural slowdown in the business cycle,” he continued. “It is entirely because of Trump’s destructive policies, the tariffs that he is putting on place for goods that come from Canada, Mexico and China. They are incredibly inflationary. The job losses that we are seeing in the federal government are having a real effect, including on real estate values in certain areas.”
Trump on Tuesday imposed 25 percent tariffs on imports from Canada and Mexico, as well as an additional 10 percent tariff on Chinese goods. Two days later, Trump announced a delay in those tariffs until April.
He has cited frustration over the flow of fentanyl into the United States, though experts have noted relatively little fentanyl enters the country through the northern border compared to the southern border. White House officials have argued Trump’s tariffs should be seen not through the lens of a trade war, but through the lens of a war against fentanyl, which kills thousands of Americans each year.
Still, the White House’s unpredictable approach to tariffs has rattled financial markets, with the Dow Jones Industrial Average, the Nasdaq composite and the S&P 500 all taking on losses earlier in the week.
The Trump administration has also cut tens of thousands of federal worker jobs in its efforts to reduce the size of the federal budget and workforce.
Trump would not rule out definitively the possibility of a recession for the U.S. economy. Asked in an interview on Fox News’s “Sunday Morning Futures,” Trump said, “I hate to predict things like that.”
“There is a period of transition, because what we’re doing is very big,” Trump continued. “We’re bringing wealth back to America. That’s a big thing. And there are always periods of — it takes a little time. It takes a little time. But I think it should be great for us. I mean, I think it should be great.”
Boyle slammed Trump for his remarks, pointing to the president’s campaign promises to prioritize lowering prices and cooling inflation.
“I’m confused, because isn’t this the same person, Donald Trump, who spent so much time in my state six months ago, saying he was going to fix it and fix it, quote, ‘on day one’? And now, all of a sudden, he’s not guaranteeing that there won’t be a recession?”
