WASHINGTON, DC – Today, Congressman Jamie Raskin (MD-08) introduced legislation to show Americans exactly how much of a dent the ‘Trump Tariffs’ are putting in their wallets. The Truth in Tariffs Act requires large retailers to clearly display the portion of an item’s price attributable to tariffs. At a time of increasing economic chaos generated solely by President Trump, this bill will illuminate the hidden costs of tariffs and empower consumers to make informed decisions. 

“President Trump has thrust our economy into turmoil, hiking up costs, roiling markets and leaving consumers and businesses reeling from the uncertainty and havoc wrought by his reckless Trump Tariffs,” said Rep. Raskin. “President Trump’s universal tariffs constitute an effective national sales tax, which hurts working families the most. If the President and his government of billionaires are going to force American families to pay a lot more money for fewer available goods, the people have a right to know just how much of this new price burden stems directly from the President’s actions.” 

The legislation supports basic consumer rights and national economic literacy. Under the Truth in Tariffs Act, Americans who are being asked to pay more for the products they need will have greater decision-making power at grocery stores, car dealerships, e-commerce marketplaces and more. Furthermore, this legislation will protect consumers from price-gouging by ensuring that large retailers do not use President Trump’s chaotic tariffs rollout as an excuse to hike up prices even further. A trade model from the University of Pennsylvania’s Wharton School of Business finds the White House’s tariffs would raise prices, lower wages and reduce our GDP. 

Please find the full text of the legislation here.

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