Warren: Tariffs can be tool but currently are causing ‘chaos and corruption’

Sen. Elizabeth Warren (D-Mass.) noted that she believes tariffs can be a tool for U.S. trade but thinks President Trump’s implementation of sweeping tariffs has caused “chaos and corruption.”

Warren joined CNN’s “State of the Union” on Sunday, where host Jake Tapper asked her about her previous support for tariffs but recent criticism of the administration’s push for them.

“Let’s keep in mind tariffs can be an important tool in the toolbox when used in targeted ways, but right now, what we’ve got is chaos and corruption,” she said. “Donald Trump has imposed a tariff on everyone, everywhere, on all products. That’s the 10 percent tariff.”

Warren noted that Trump has walked back the higher “reciprocal” tariffs on many countries for a 90-day pause, leveling the playing field to 10 percent tariffs on every country except China, which had its tariff level increased.

The Massachusetts Democrat argued that Trump is playing “red light, green light” with countries by pausing tariffs and allowing exemptions on some goods from some countries.

She noted that people make investment plans years in advance, and right now, “nobody can figure out what the rules will be five days from now, much less five years from now.”

Warren, the top Democrat on the Senate Banking Committee, has called for the Securities and Exchange Commission to investigate if Trump intentionally manipulated the markets when he walked back some of the tariffs, causing the markets to fluctuate.

“Let me be clear with the back-and-forth here. That’s what investigations are for, and it’s entirely appropriate to have an investigation to make sure that Donald Trump, Donald Trump’s family, Donald Trump’s inner circle, didn’t get advanced information and trade on that information,” she said.

Warren later added the American people shouldn’t have to worry about whether the president and his officials are making decisions that are beneficial for the country or for the “good of their own bank account.”

She highlighted a common concern that if Trump continues to toy with tariffs, it could lead to a recession. She said those warning lights are “flashing red” right now.