Ciscomani and Schweikert's Support for Tariffs Raises Costs, Threatens Economy

TUCSON — The latest Consumer Price Index (CPI) report shows that prices are continuing to rise on a whole host of products under President Trump's tariffs – which Congressmen David Schweikert and Juan Ciscomani voted to support earlier this year – and already slow job growth is expected to worsen as Republican tariffs push businesses to a tipping point. 

According to the New York Times:

“Americans have become choosier about how they spend as hiring across the country has slowed in recent months. July’s jobs report showed just 73,000 jobs added for the month, and gains registered in May and June were revised down by an unusually high total of 258,000 positions. Companies have yet to lay off workers in droves, but economists worry that they will be forced to cut back on costs as tariffs continue to eat into their margins.

Tuesday’s data is important for the Federal Reserve, which is facing a challenging economic situation in which prices are rising while the labor market is weakening. It is a difficult backdrop given the Fed’s duty to keep inflation low and stable while also ensuring that unemployment does not rise too much. Officials at the central bank have kept interest rates steady since the start of the year as they have sought more clarity on how Mr. Trump’s policies, including tariffs, would impact the economy.

That approach has attracted significant criticism from the president, who has taken to directly insulting Jerome H. Powell, the chair of the central bank, as well as the powerful Board of Governors that he heads.

More policymakers appear to be joining that camp following the most recent data that showed far less monthly jobs growth since the start of the summer than initially expected. Earlier this summer, [Fed Reserve Board President] Powell conceded that were it not for tariffs, the Fed likely could have reduced borrowing costs already.”

“Because of Congressmen Schweikert and Ciscomani's support for Trump's tariffs, Arizonans are continuing to see higher prices and slower economic growth,” said Andrea Moreno, Executive Director of Honest Arizona. “They say they're looking out for Arizonans, yet every chance they get, they vote for higher costs for all of us.”

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