Stefanik-Trump Tariffs Drive Up Prices By the Most in Three Years
- slcnydems
- Aug 15
- 3 min read
From the New York State Democrats, August 14, 2025
Wholesale Inflation Increased 3.3% From Last Year Due To Stefanik-Trump Tariff Tax Hikes
NEW YORK – Today, new data showed that prices increased by the most in three years due to the Stefanik-Trump tariffs. Wholesale inflation jumped 3.3% from last year as “companies are passing along higher import costs related to tariffs.”
Governor Hochul called out Trump and D.C. Republicans like Stefanik for their tariff tax hikes in response to today’s inflation report.
Stefanik has enabled and cheered on Trump’s tariff tax hikes that will cost New York families an average of $4,200 and are hurting her own district as businesses struggle due to sharp declines in tourism and farmers stare down higher costs.
Bloomberg: “US Producer Prices Rise by Most in Three Years on Services”
“US wholesale inflation accelerated in July by the most in three years, suggesting companies are passing along higher import costs related to tariffs.”
Financial Times: “US wholesale prices jump 3.3% as Trump tariffs hit economy”
CNN: “Businesses have been eating Trump’s tariffs. That’s starting to change”
Earlier this week, new data showed that core inflation increased in July at the fastest pace in six months as Trump’s trade war “intensified price pressures.”
NPR: “Inflation remains elevated as Trump's tariffs take hold”
“Inflation continued to dog shoppers last month, as consumers were forced to shoulder more of the cost of President Trump's tariffs.”
Yahoo Finance: “Core inflation rises by most in six months, stoking tariff-driven price concerns”
New York Times: “U.S. consumer prices rose 2.7% in July from a year ago, as President Trump’s tariffs intensified price pressures.”
New York Post: “Core inflation heats up in July in sign that Trump’s tariffs are hitting prices”
Stefanik has enabled and cheered on Trump’s tariff tax hikes at the expense of the middle class – increasing costs for New Yorkers and hurting small businesses.
Stefanik voted to enable Trump’s tariff tax hikes that will cost New York families $4,200 on average.
WWNY: “Congresswoman Elise Stefanik shows support for President Trump’s tariffs”
NCPR: “Tariffs and trade threats against Canada have led Canadians to boycott U.S. goods and travel plans… Stefanik said she supports Trump’s tariff approach…”
Times Union: “Republican leadership in the house, including Rep. Elise Stefanik from the North Country, has made clear that they don’t plan to stand in the way of Trump’s tariffs.”
A majority of New York voters disapprove of the job Trump is doing on the economy, trade, and inflation.
The Stefanik-Trump tariffs are hurting New Yorkers – including businesses – in Stefanik’s North Country district.
New Yorkers are feeling the pain as prices increase and businesses struggle due to declines in tourism.
Two-thirds of North Country businesses say they have experienced a decrease in Canadian bookings for 2025, and a quarter have reduced staffing levels as a result.
North Country business leaders have been “stunned and confused” by Trump’s erratic trade policy.
Stefanik also voted for Trump’s Big Ugly Bill that “could cause prices to rise and send interest rates higher.”
The budget also adds trillions to the deficit and gifts tax breaks to billionaires at the expense of hardworking New Yorkers.
The tax scam will be “harming low-income Americans, and benefiting the rich the most.”
The Economic Policy Institute’s chief economist says the budget bill “will result in easily the largest one-time upward redistribution of income in U.S. history.”
Concerned? Call NY-21 Rep. Elise Stefanik in DC at (202) 225-4611!
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