Schiff: 'If we head into a recession, it will be the Trump recession'
Sen. Adam Schiff (D-Calif.) said Trump is "wrecking the economy," adding that if the U.S. heads into a recession, it will be known as the "Trump recession."
During an appearance on NBC News's "Meet the Press," Schiff was asked by host Kristen Welker about Trump's assurance that his global tariffs will create an "economic revolution."
"I don't agree with any part of that," he said of Trump's statement. "And unfortunately, he's wrecking our economy."
"I hope and pray we stay out of recession," he added. "But if we head into a recession, it will be the Trump recession."
Schiff also said images of Trump golfing while "people have seen their retirement savings on fire" will be "the most enduring image of the Trump presidency."
"This is a completely self-destructive economic act that he's engaged in," Schiff continued. "And it's not just the tariffs. It's also the freezing of funds, the firing of people, the alienation of our allies in California. I'm hearing from farmers who still haven't recovered market share from the tariffs during the first Trump administration."
He noted that the tourist industry and small businesses are also taking a hit.
"I'm hearing from people in the tourist industry," he said. "You have people from other countries now who don't want to come here, most particularly Canadians."
"I'm hearing from other small business people who are telling me that Canadians are saying, 'Don't send us any more of your products. In fact, we're going to send you back what you've already sent us.' It's the whole range of Trump economic policies that are really hurting people," he added.
Schiff's criticism comes after Trump last week announced a general 10 percent tariff on goods imported to the U.S., along with other targeted tariffs on various U.S. trading partners. Markets plummeted after Trump's announcement. On Friday, the Dow Jones Industrial Average dropped 2,200 points and the S&P 500 lost 10 percent over the course of two days.