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Tariffs

Durbin Slams President Trump's Failing Tariffs, Harm to the U.S. Economy

Strategic Insights

— 2 min read

In a strongly worded speech on the Senate floor, Sen. Dick Durbin (D-IL) condemned the Trump Administration's economic policies, including the "One, Big Beautiful Bill Act" and the "Trump Tariffs." Durbin argued that these policies will lead to significant harm to the U.S. economy, particularly for working families and small businesses. He highlighted the effects of the tariffs on everyday goods, including school supplies, which have risen by over 12% since last year. Durbin also criticized the Administration's handling of the tariffs, calling it a "chaotic" and "sloppy" approach that is weakening the U.S. position abroad.

Key Takeaways:

  • The "One, Big Beautiful Bill Act" will add a whopping $3.4 trillion to the national debt over the next decade.
  • The Trump Tariffs are expected to cost the U.S. nearly $500 billion in manufacturing investments by 2029.
  • Working families making less than $35,000 a year will only see a minor tax break of $3 a week under the OBBA.
  • In contrast, billionaires could see a tax break of over $310,000 or $6,000 a week.
  • School supplies have risen by over 12% due to the Trump Tariffs, with a total increase of $73 million compared to last year.
  • The costs of everyday goods such as fresh vegetables, coffee, and eggs have increased by over 16%, 30%, and 16% respectively due to the tariffs.
  • The Trump Tariffs are also expected to drive up costs for car repairs, heating and cooling homes, formula, diapers, and clothing for children.
  • The U.S. will lose nearly $500 billion in manufacturing investments by 2029 due to the Administration's policies.
  • The political approach to the tariffs has been "chaotic" and "sloppy," with the Administration doubling down on tariffs despite court rulings deeming them illegal.

Statistics:

  • $3.4 trillion: The estimated increase in national debt over the next decade due to the OBBA.
  • $500 billion: The estimated loss in manufacturing investments by 2029 due to the Trump Tariffs.
  • $73 million: The total increase in school supply costs due to the Trump Tariffs.
  • 12%: The increase in school supply costs since last year due to the Trump Tariffs.
  • 16%: The increase in fresh vegetable costs due to the Trump Tariffs.
  • 30%: The increase in coffee costs due to the Trump Tariffs.
  • 16%: The increase in egg costs due to the Trump Tariffs.
  • $3: The minor tax break for working families making less than $35,000 a year under the OBBA.
  • $310,000: The estimated tax break for billionaires under the OBBA.
  • $6,000: The estimated weekly tax break for billionaires under the OBBA.

Sources:

  • Sen. Dick Durbin, D-IL, "Durbin Slams President Trump's Failing Tariffs, Harm to the U.S. Economy" (September 4, 2025)
  • Durbin's Senate Floor Remarks (audio, video, and footage available)

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