Davids Warns of Rising Costs for Kansas Families as Trump’s Tariffs Take Effect

Today, Representative Sharice Davids released the following statement in response to President Trump’s latest round of tariffs, which went into effect early this morning. Experts warn the tariffs could raise costs for American families by $4,000 to $8,000 per year and further damage an already fragile economy.

“Once again, President Trump has taken a drastic economic action without a clear plan for what comes next — and it’s Kansas families who will pay the price,” said Davids. “These reckless tariffs threaten our small businesses, farmers, and working families, all while we’re already facing the worst market performance under any president since World War II. People's retirement savings, grocery bills, and long-term stability are on the line. We need smart, bipartisan trade policy that protects American workers and opens new markets — not chaotic political stunts that could raise prices for hardworking families by at least $3,800 a year.”

Background:

President Trump’s new tariffs have thrown financial markets and the broader economy into chaos. Since the announcement, the stock market has plummeted — marking the worst start for any president since World War II. This historic downturn is directly tied to the tariffs and is already hitting everyday Americans in their retirement accounts. A typical 401(k) for someone nearing retirement age has lost thousands of dollars in just a week.

These tariffs also threaten key industries in Kansas, including agriculture and manufacturing, by increasing the cost of imported equipment and materials, and by inviting retaliatory tariffs on exports. This reckless approach to trade policy underscores the need for thoughtful, bipartisan solutions that promote fair trade without harming American consumers and businesses.

Davids has consistently supported bipartisan approaches to trade that balance competitiveness with consumer protection, including measures to hold unfair actors accountable while avoiding broad, unpredictable economic consequences.