“This is an open and obvious betrayal of the American worker,” said Dave Giltner, a spokesman for the Labor Party. “The administration’s bungling tariff strategy has destabilized global trade, crippled American exporters, and driven up costs for working families. And now, with confidence shattered and markets in freefall, everyday people are being asked to shoulder the fallout.”
The party pointed to massive price increases and counter-tariffs across most sectors of the economy. The Labor Party also criticized the administration for ignoring calls from economists and labor leaders who warned of precisely this scenario months ago. “There has been no plan, no accountability, and no leadership. We’re witnessing the slow-motion demolition of our economy at the expense of the many for the benefit of the few.”
The Labor Party points to the following catastrophic developments:
- More than $11 Trillion in Market Value Erased since Inauguration Day: Retirement savings and pension funds are seeing devastating declines. Millions of Americans could wake up Monday morning to find their 401(k)s, IRAs, and pensions gutted—just months before summer layoffs begin.
- Tariff Carnage: The administration’s erratic, unilateral tariff escalations have crippled American manufacturing and agriculture. Businesses, large and small, are now cutting jobs or shuttering entirely. The burden falls squarely on workers—not the billionaire class this administration caters to.
- Rising Layoffs, Falling Paychecks: March saw the sharpest spike in job losses since the pandemic. Real wages stagnate, inflation erodes purchasing power, and economic insecurity is now the norm for working families nationwide.
- No Plan, No Accountability: While corporate boards prepare golden parachutes, workers are told to “wait it out.” There is no relief package, job guarantee, or strategy—just spin from political operatives more interested in protecting Wall Street than Main Street.
The Labor Party is calling for immediate action to protect workers and retirees, including:
- Emergency stabilization of public pension funds
- An immediate reversal of these recent tariffs and a moratorium on any new ones
- A federal relief fund for laid-off workers
- Oversight hearings into the economic decisions that led to this crisis
“As the stock market teeters on the edge of collapse, the American worker deserves more than silence and spin. They deserve answers. And they deserve leadership that works for them—not Wall Street.”
