Rhode Island's Congressional Delegation calls out Trump's 100 Days of Economic Chaos

“Donald Trump is a one-man financial crisis and has single-handedly driven down consumer confidence and forced up prices with his reckless tariff taxes,” said Senator Reed.

United States Senators Jack Reed and Sheldon Whitehouse and Representatives Seth Magaziner and Gabe Amo held a press conference at Farm Fresh RI to highlight the terrible economic consequences of President Trump’s actions in the first 100 days of his second term.

“Rhode Island is a small business state, and the Trump Tariffs are saddling many business owners with major economic uncertainty,” said Senator Whitehouse to reporters. “Trump is constantly changing his mind about how and when he’s going to slap tariffs on our allies so Republicans can help pay for big tax cuts for giant corporations and the wealthy. That leaves small business owners wondering which products they can stock, at what cost, and whether they can make payroll.”

The delegation issued a report card to properly highlight the President’s devastating impact on the United States’ economy and our standing in the world:

As the report card shows, consumer confidence has been down nearly 30 percent, and the dollar’s value has been down almost 10 percent since President Trump took office. Prices on everyday goods are expected to climb, with year-ahead inflation expectations hitting 6.7% in April, the highest reading since 1981. The stock market has dropped considerably, causing retirement plans and savings to plummet as the risk of a recession skyrockets. President Trump’s scattershot and indiscriminate tariff plan will force families to pay nearly $5,000 more yearly. It has already wiped out trillions of dollars from the stock market.

“Donald Trump is a one-man financial crisis and has single-handedly driven down consumer confidence and forced up prices with his reckless tariff taxes,” said Senator Reed. “He inherited an economy on the upswing and senselessly decimated it with policies that raised prices, deterred investment, and needlessly triggered financial turmoil. So far, Trump’s economic policies have been a disaster for Main Street and a nightmare for Wall Street. Instead of increasing costs on consumers and businesses, President Trump must reverse course and work with Democrats to lower prices and get our economy working and growing again.”

President Trump has made false claims about the price of gas, eggs, and other groceries. President Trump claimed that gas costs $1.98 per gallon in some states, while the national average price is currently $3.17 per gallon and $2.94 in Rhode Island. Additionally, Trump claimed egg prices are down 94 percent since he took office. The national average cost of eggs in March 2025 was $6.23 – an all-time high for the third straight month. Americans are also paying more for coffee. The average price of coffee in March 2025 was $7.38, up 15 percent since the beginning of the year.

“Donald Trump’s first 100 days have been an economic disaster,” said Representative Magaziner. “This is to be expected from an administration of out-of-touch billionaires with no idea what working people go through daily. The Trump Administration’s assault on essential programs includes education. They have proposed cutting funding for public schools and job training.”

Trump’s trade war has driven up prices for families and small businesses. The President’s blanket tariffs on nearly every product imported into the United States, including 25% tariffs on Canada, Rhode Island’s biggest international trading partner, have already impeded businesses in our state. The tariffs have increased the cost of imported goods and raw materials on which small businesses depend. These rising costs have slowed production, reduced competitiveness, and left business owners scrambling. International travel to the United States has declined sharply since President Trump returned to office, threatening Rhode Island’s tourism industry.

“Over the past 100 days, Donald Trump has unleashed a torrent of chaos and confusion on a number of fronts,” said Representative Amo. “This isn’t fear-mongering. Rhode Islanders are right to be afraid when they see the largest number ever — $880 billion — in proposed cuts to Medicaid. Yet Medicaid isn’t just a government program; it’s about universal values.”

The Trump administration and Elon Musk’s Department of Government Efficiency threaten the stability of Social Security benefits for the over 230,000 Rhode Islanders who receive them through customer service cuts, staff firings, and buyouts. President Trump and Congressional Republicans are also trying to take health care coverage from many of the nearly 330,000 Rhode Islanders, thirty percent of the state’s population, who are enrolled in Medicaid or CHIP. To pay for trillions in tax cuts for mega-corporations and the wealthy, Republicans are preparing to pass a bill with $880 billion in Medicaid cuts. Approximately 44 percent of births in Rhode Island are covered by Medicaid, and half of all Rhode Island kids are enrolled in Medicaid.

After the press conference, I asked Senator Whitehouse if President Trump has done anything good for the economy. There was a ten-second pause as the Senator tried to think of anything positive.

“Has he done anything positive for the country?” I asked, broadening the question.

“He’s said that he supports making daylight saving time permanent,” said Senator Whitehouse. “I’m with him all the way on that.”