‘It’s Scary’: House Repub Warns ‘Many Businesses’ in His State Will ‘Probably’ Close Soon From Trump Tariffs

Rep. Don Bacon (R-NE) admitted many businesses in his state will be closing up shop soon if President Donald Trump’s tariffs don’t “change.”

Bacon joined MSNBC’s The Weekend on Saturday, along with Rep. Josh Gottheimer (D-NJ), and revealed the concerns he’s hearing from businesses in his state about Trump’s ongoing tariffs. The president has paused most of his heavier tariffs while he negotiates new trade deals. He’s insisted his trade war will lead to more beneficial trade deals and a boost in American manufacturing.

On Saturday, Bacon said car dealers and other businesses are telling him prices will need to go much higher as there is no time to fulfill demands that were previously not met within the United States. Many car manufacturers also rely on certain components from overseas while they actually build the cars here.

Bacon said there are “mixed signals” right now, noting the economy shrank in the first quarter, sparking recession fears among economists. The lawmaker said if the current tariffs are not “revised,” businesses will be either closing or jacking up prices, which will only add fire to the potential of a recession.

He said:

When I talk to car dealers here in Omaha, they say if these tariffs aren’t revised, the average person is going to pay $5000 more to buy an American car, let along a foreign made car. But an American car will cost that much more because a lot of our parts come from all over the world. We’ve got globally sourced manufacturing for cars and many other things. I have many businesses, just like Josh is saying, they’re probably gonna go out of business if this doesn’t change soon. One gentleman, he has his whole store’s Christmas lights. It’s one of the best Christmas lights stores you’ll ever see. But all of those lights comes from China, so he doesn’t have time to find other sources.

Bacon added there are “so many other examples” of business owners in similar situations as they face an uncertain market.

“It is creating a lot of disturbance,” Bacon said. “If this is your livelihood, you know, it’s scary.”

In a preview of a Sunday Meet the Press interview, the president downplayed fears about a recession, calling the current moment a “transition period.”

“Look, yeah, it’s — everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically,” he said.

Watch the clip above via MSNBC.