Warren Concerns Over Trump’s Tariff-Driven Price Hikes
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Sen. Elizabeth Warren wrote to Howard Lutnick, the secretary of commerce, asking him to explain how the Trump administration plans to stop companies from using tariffs as an excuse to raise prices. According to Warren, while tariffs can sometimes be a strategic way to help American businesses and create manufacturing jobs, President Trump’s across-the-board tariffs have been chaotic. She expressed concern that Trump is enabling corporate greed by allowing companies to increase prices regardless of whether goods are actually subject to tariffs. However, Lutnick and Scott Bessent, the secretary of the Treasury, believe that tariffs do not cause inflation, but rather the printing of more money does.
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