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White House Says Trump’s Tariffs Will Destroy Manufacturing, Exacerbate Inflation

June 15, 2024
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The White House is criticizing congressional Republicans for supporting “MAGAnomics” and former President Donald Trump’s proposed broad tariffs, arguing that these measures would increase costs for families and worsen inflation. In a Friday memo to allies and interested parties, White House deputy press secretary Andrew Bates condemned Republicans for targeting Medicare and Social Security for cuts, advocating for tax breaks for the wealthy, and endorsing tariffs that would raise expenses and taxes for working families.

Bates noted that congressional Republicans convened to plan a 2025 agenda that would impose substantial tax hikes on the middle class through high tariffs while offering tax benefits to large corporations that are overcharging Americans despite a decline in inflation. Trump, during his visit to Capitol Hill, met with Senate and House Republicans and briefly mentioned the idea of replacing income tax with tariffs, according to Rep. Thomas Massie of Kentucky.

Bates also highlighted a statement by House Republican budget leader Jodey Arrington, expressing concern about mandatory spending on Medicare, Medicaid, Social Security, and welfare as threats to economic security. Bates accused congressional Republicans of wanting to extend the Trump tax cuts for billionaires and multinational companies, and of seeking further corporate tax reductions that would increase the deficit by an additional $1 trillion.

President Biden opposes this “dangerous MAGAnomics agenda,” advocating instead for a plan to protect and strengthen Medicare and Social Security, reduce the deficit by ensuring that wealthy special interests pay their fair share, and combat corporate greed that harms American families as inflation decreases. Bates asserted that Republicans have opposed all aspects of Biden’s plan, including defending junk fees and price gouging.

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According to Bates, the “MAGAnomics summit” highlights the stark contrast between Biden’s vision of economic growth benefiting the middle class and a Republican plan that prioritizes billionaires and large corporations, leaving working families to bear the brunt of costs while losing their Medicare and Social Security benefits.

The Trump campaign did not immediately respond to a request for comment from Fox News Digital. Trump’s visit to Washington, D.C., included a meeting with Senate Minority Leader Mitch McConnell, where he claimed that there is significant unity within the Republican Party and vowed to restore common sense to government if he is elected in November.

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