Could new tariffs drive up your cost of living?
Senator Rand Paul (R-KY) is raising serious concerns over President Donald Trump’s incoming global tariff plan, which could begin impacting American consumers as early as this week.
In a recent WABC Radio interview, Paul cautioned that the tariffs—while well-intentioned—could backfire by increasing costs on essential goods like automobiles and bourbon, two industries deeply rooted in his home state of Kentucky.
“I think tariffs are bad for America. I don’t think they help us, and I believe they hurt working families and retirees alike,” Paul said.
Paul Cites Inflation Worries Still Lingering From Biden Era
Paul’s warning comes as Americans—especially those over 50—are already grappling with high inflation, elevated interest rates, and shrinking retirement savings. Many fear that additional trade tariffs could make matters worse, especially for seniors living on a fixed income.
“Some estimates suggest car prices could rise $5,000 to $10,000,” Paul explained. “That’s devastating for families trying to buy a reliable vehicle—or for seniors needing a replacement car.”
Free Markets vs. Trade Protectionism
While Paul has supported President Trump on many America First policies, he made it clear this is one area where he respectfully parts ways.
“I understand President Trump believes we’ve been taken advantage of,” Paul said. “But free trade has made America stronger, richer, and more peaceful since World War II.”
Paul stressed that global trade has historically played a key role in keeping inflation low and growing American wealth—especially important for conservative, working-class Americans and retirees.
New Poll Shows Americans Want Price Relief—Not Price Hikes
A fresh CBS News poll shows that 64% of Americans feel the administration isn’t doing enough to lower everyday costs—a concern echoed by Paul.
“We’re still recovering from the economic mess Joe Biden left behind,” Paul said. “The last thing we need is new tariffs raising prices on everything from vehicles to everyday goods.”
What This Means for You
For seniors living on retirement income, and middle-class families already squeezed by the Biden inflation hangover, any policy that raises costs deserves scrutiny. Paul’s message to Trump: Think twice before adding to Americans’ financial burden.