Treasurer Steiner Issues Statement On Destabilizing Financial Impact Of Trump Administration Tariffs On Oregon Households

Oregon State Treasurer Elizabeth Steiner called on the Trump administration to take costly tariffs off the table and maintain the integrity of the federal payment system to preserve the financial stability of Oregonians and all Americans.

In a statement Treasurer Steiner said:

"Oregonians are doing better financially than most Americans, according to a new report just released by the Oregon State Treasury, but recent actions by the White House are threatening the financial stability and security of many Oregon households.

The annual cost of the administration’s suddenly proposed tariffs on Canada, Mexico and China amount to an expense that nearly half of Oregon households are not prepared to absorb. According to new data compiled for the Oregon State Treasury by Oregon State University (OSU) researchers, nearly 1 in 2 Oregonians cannot afford an emergency expense of more than $500. Yet, the cost of the proposed Trump administration tariffs on Canada, Mexico and China would increase costs to the typical American consumer by amounts ranging from $800 to $1,200 per year, according to independent economists.

At a time when the cost of living remains a major source of worry for Oregonians, this price hike is an unnecessary expense that many Oregon families cannot afford. While the administration has paused tariffs on Canada and Mexico, Oregon consumers should not have to worry about having to pay more for groceries, gas, clothes, cars and other items they use each day.

In addition, I am deeply concerned about other actions the White House has taken in recent days that could also harm the financial well-being of Oregonians. Last week, the administration tried to freeze more than $40 billion in funding that the federal government contributes to Oregon’s state budget (and hundreds of millions more that flow directly to universities and non-profits serving Oregon communities). The administration also has sent repeated messages to Oregon’s 17,500 civilian federal employees – who care for veterans, provide Social Security payments, operate dams, provide air traffic control, manage public lands, and provide other vital services – urging them to resign. The White House has given unvetted temporary staff at the Department of Governmental Efficiency (DOGE) access to the federal Treasury’s payment system – potentially freezing trillions of dollars in federal funds and compromising the information privacy of Americans.

I urge the White House to abandon its costly tariff plans, maintain the integrity of the federal payment system, and ensure the uninterrupted flow of funds to Oregon and other states. Oregonians cannot afford to bear the financial cost of these fiscally reckless actions."