WASHINGTON, D.C. — While Donald Trump hosts a press conference to celebrate the destruction and chaos billionaire Elon Musk caused while running DOGE, hardworking Americans across the country are struggling with Trump’s reckless tariff schemes that continue devastating families through skyrocketing prices and widespread economic chaos.
As Trump and Musk push their handouts to the ultra-rich, unemployment claims rose, corporate profits cratered by the most since 2020, and home sales collapsed, proving Trump’s policies benefit only his wealthy backers while crushing ordinary Americans under the weight of higher costs and fewer opportunities.
See below for all the devastation and economic chaos Trump’s reckless policies have unleashed on working families this week:
- Trump’s $34 billion tariff assault on working families: Companies report paying $34 billion and counting in tariffs, with costs being passed directly to consumers through higher prices on everything from electronics to groceries.
- Corporate profits crater while workers suffer: US corporate profits fell by the most since 2020 ahead of Trump’s tariff implementation, while companies prepare to slash jobs and raise prices to offset tariff costs.
- Unemployment rises as Trump’s policies fail: Weekly jobless claims rose more than expected, proving Trump’s economic agenda continues prioritizing billionaire tax cuts over job creation for working Americans.
- Housing dreams crushed: US pending home sales fell sharply in April, making homeownership even more unattainable for working families as Trump considers policies that could add thousands in additional mortgage costs.
- Economic devastation spreads globally: The UN predicts 7 million new jobs will evaporate this year because of Trump’s trade war, while fewer international tourists visit the US, causing what researchers call “staggering” economic losses.
- Consumer spending slows amid tariff chaos: Despite Trump’s claims, US consumer spending growth is slowing as working families struggle with higher prices caused by his tariff policies, proving his economic agenda is failing the very people he claims to help.
Bottom Line: Trump’s economic agenda is creating a rigged economy where billionaires get ahead while hardworking Americans suffer through higher prices, fewer jobs, and crushed dreams of homeownership – all while MAGA Republicans cut the health care and food assistance programs working families need most.