By Charles Switzer
2:02am PDT, Apr 9, 2025
Schumer Sounds the Alarm on Tariff Impact
Senate Minority Leader
Chuck Schumer issued a sharp warning on Monday, April 7, criticizing President Donald Trump's escalating
tariff policies and their potential consequences for New York City, the
New York Post reported.
Speaking publicly, the Democratic lawmaker cautioned that the city's economy could take a nearly $20 billion blow if the White House continues down its current trade path.
"President Trump's pinball tariff strategy will wreak total havoc on New York City and is likely to drive us right into a recession," Schumer said. "We've crunched the numbers, and what doesn't look good for the nation, looks far worse for New York City."
Keep reading to learn more about Schumer's pointed plea to the president.
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Jobs and Core Sectors at Risk
Chuck Schumer argued that Donald Trump's
sweeping tariff measures will jeopardize some of the city's most vital industries.
"Some of the Big Apple's core sectors are being targeted already, New Yorkers face roughly $20 billion dollars in increased costs, and a staggering 260,000 New York jobs are under threat, unless Donald Trump backs off," he warned.
He further emphasized the severity of the situation by urging, "Back off, President Trump. What you're doing is ugly. Ugly for New York and ugly for the nation."
New York City's Vulnerability
Chuck Schumer argued that due to its status as a global financial and trade hub, New York is especially exposed to the ripple effects of tariffs.
He cited JPMorgan's forecast of a 60 percent chance the U.S. will face a
recession this year, suggesting the risk is even greater for the city. Industries like finance, tech, accounting, fashion and tourism could all face setbacks, he said.
The senator also noted growing international backlash: "The market continues to crash. Millions of New Yorkers who put money in their retirement accounts are seeing the market down to 10 percent since so-called 'Liberation Day'. People don't feel very liberated," Schumer said. "Now Trump tariffs are likely to drive New York right into a recession, and it's going to be worse for New York City and its suburbs."
'Put Down the Golf Clubs'
Chuck Schumer didn't hold back in addressing Donald Trump directly. He criticized the president's approach to leadership during a critical moment for the economy.
"Put down the
golf clubs and pick up the papers and have a look at what is going on because it is anything but 'great,'" Schumer said.
Trump Defends Tariffs Amid Economic Fears
Despite growing criticism and market instability, President Donald Trump has stood firm in defense of his trade strategy.
Also on Monday, as recession concerns intensified and markets declined, he posted on Truth Social, "Be Strong, Courageous, and Patient, and GREATNESS will be the result!"
The administration recently announced a sweeping 10 percent base tariff on all imports, along with steeper levies on select goods from key trade partners. Items like high-end Italian coffee, Japanese whiskey and Asian-manufactured athletic gear are among those targeted.
Trump has continued to argue that the new
"reciprocal" tariffs will offset foreign trade barriers and strengthen domestic manufacturing.
