During remarks on the Senate floor Thursday, Senate Minority Leader Chuck Schumer (D-NY) called on retailers to list out exactly how tariffs are causing goods to increase in price for consumers after the Trump administration described it as a 'hostile act.'
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00:00Even Donald Trump admits that prices are going up because of his trade war.
00:07Companies ranging from Procter & Gamble to Target to Adidas to Best Buy to AutoZone all
00:12warn, all warn that a global trade war means that Americans will pay more for their products.
00:18Even if some companies try to hold off for a little while, eventually the dam is going
00:22to break.
00:23The result, the average household will pay an extra $4,700 a year.
00:30That's a lot of money for an average family.
00:33I urge national retailers to be transparent to their customers.
00:38If national retailers raise prices on their products, they should list out exactly how
00:44much their price increases are connected to tariffs.
00:48They should break it down so consumers know.
00:53Companies itemizing the cost of tariffs for their customers is not hostile or political.
00:57It's being honest with consumers, and it's easy to do.
01:00I've talked to business people all over my state and even the country, and they know how
01:05much the costs are increasing because of tariffs.
01:09They simply have to let consumers know as well.
01:13American gas companies already itemize each surcharge and fee in each utility bill.
01:19Airline companies on their tickets list out fuel costs, security fees, base fares.
01:24Why shouldn't they and all companies do the same for this new increased cost, the tariffs?
01:34Retailers have reportedly already explained to the Trump administration the impact of tariffs
01:39on their products while consumers deserve the same courtesy.
01:44Itemize the price of tariffs.
01:46Break down the cost so people can see.
01:49And maybe that will cause enough people to put pressure on Republican senators and congressmen
01:54on the White House to get rid of these ridiculous tariffs across the world.
02:01And it will serve the interests of the retailers as well.
02:06Because if the prices go away, their prices will go back down.
02:11Americans deserve to know who is picking their pockets.
02:13I call on retailers to disclose to consumers how much tariffs are increasing the prices of
02:19their products, and they should do so as soon as possible.