Charles E. Schumer

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Mr. President, first on China and AI, the evidence for the potential dangers of unchecked AI continue to grow and grow, but Donald Trump keeps brushing off America's concerns about AI's risks. Trump justifies his support for unregulated AI by saying that is how we beat China in the AI race, but his refusal to join us in blocking the sale of the most advanced chips to China does the opposite: It lets China get ahead of us. The best tool we have to outcompete China and curb the CCP's AI ambitions is by prohibiting their access to the most advanced AI chips and manufacturing equipment. I have been saying it for years. A group of us have introduced bipartisan legislation to the NDAA to stop it. National security experts agree that we have to stop the sale of these chips to China. Many of my Republican colleagues agree. But Trump doesn't, and he is the biggest barrier standing in the way. Trump keeps saying he wants to curb China, but he keeps standing in the way of the best method we have to make sure China doesn't get ahead of us and beat us in this competition over what to do with AI. Stop selling them the most advanced chips, Donald. Donald, listen already, because you are hurting America and making the world more dangerous by what you are doing on these chips. Donald, if you want to get a leg up on China over AI, join us in stopping them from getting our chips, plain and simple. Trump could protect this technology and America's lead in the AI race today. Before Trump meets with Xi Jinping next week, he needs to draw a line in the sand and say that blocking the Chinese Communist Party's access to our cutting-edge AI technology is nonnegotiable. This was a longstanding policy of the America Government, of both parties, until Trump started listening to his cronies that America's security was up for negotiation with our enemies. We need to reject the false choice Trump keeps presenting. We can both maintain our lead in the AI race by restricting China's access to our technology, and we can put up guardrails to mitigate AI's risk at the same time. These goals are not mutually exclusive. In fact, they are fundamentally intertwined. AI development that leads to a catastrophic event and the loss of public trust will undermine America's leadership. Democrats are working on measures to accomplish both these priorities, and Republicans need to get on board before it is too late. Make no mistake, without guardrails to ensure safe, sustainable AI innovation--and there is a lot of good that can come from the transformational innovation of AI--the AI race will become a race to the bottom, and that is no victory for the American people. Mr. President, on interest rates, every day, we see how much the chaos Donald Trump injects into our economy costs the American people. Yesterday, the Federal Reserve increased interest rates for the first time in 3 years to fight Trumpflation fueled by the President's tariffs and the disastrous war against Iran. Everything is going to become more expensive because Donald ``I love inflation'' Trump is doing everything he can to drive up costs. Every time an American takes out a loan for a house, a car, a credit card, or anything else, they are going to get settled with higher interest payments. Trump indulges in his chaos and corruption; Americans pay more. It is as simple as that. Instead of doing anything to bring down costs, to stop his tariffs, to end his war, Trump does what he always does and calls ``affordability'' a ``made up'' word. This man doesn't get it. He said it again in North Carolina just yesterday. Does Donald Trump think North Carolina voters think that ``affordability'' is a made-up word? Does Donald think that when North Carolina families sit around the kitchen table and figure out which bills they can afford to pay and not afford to pay, that that is made up? When he says these things in North Carolina, he may be saying it to a few hundred of his MAGA supporters, but the rest of North Carolina hears it and says: I don't want this guy, and I don't want a Senator who is going to go along with it. Only Trump could look at this economic pain he has inflicted on the American people and claim he is the victim. Donald, if the word ``affordability'' bothers you so much, then do something about it. Stop with the pity party. Trump also bashed the Federal Reserve Board for simply doing its job and renewed his threat to cut off a vast swath of U.S. trade if the Fed refuses to lower interest rates. Donald Trump wants to hold the American economy hostage and demand the Fed pay the ransom. Trump isn't doing anything to lower costs, and neither are Senate Republicans. Just yesterday, I pushed to pass my legislation to end Trump's tariff tax and deliver some relief to American families. Who blocked it? Senate Republicans, of course. That was the Republicans' first chance to lower costs for Americans since we have been back from our State activities for 5 weeks, and based on their schedule, it is also likely Republicans' last opportunity to stop Trump's costly tariffs before election day. Instead of lowering families' costs, Republicans voted against us. Again, the bottom line: This may have been the last opportunity to get rid of these tariffs, which are raising Americans' costs, before Leader Thune calls the session to a close. Republicans better get ready to pay a political cost in November on par with the economic costs they have inflicted on the American people. America doesn't like it. Mr. President, finally, on the Iran war, well, Trump continues to downplay the severe costs of his failed war in Iran. This week, we learned that the war has cost the Pentagon at least--at least--$38 billion and American motorists over $100 billion in extra gas costs. I saw on TV this morning that the price is approaching $4.40 a gallon, and it keeps going up. And the $38 billion is just a minimum estimate. But, yesterday, campaigning in North Carolina, Trump said the hundreds of billions of dollars he is burning on this war is ``a very inexpensive price''-- those are his words--``to pay for what we've done'' in Iran--spoken like a billionaire who has never filled his own gas tank 1 day in his life. Earth to Trump: $4.50 a gallon for gas and a record $6.40 a gallon for diesel isn't inexpensive for working Americans. What exactly does Trump think this cost has gotten the American people? Is it the Iranian regime in Tehran that is even more radical than before the war? Is it Iran's tightening grip on the Strait of Hormuz and other key shipping choke points. How about the 18 brave U.S. servicemembers killed, hundreds more wounded, tens of thousands kept in harm's way for months and months on end? The only thing Trump has done in Iran is make everything worse. How can my Republican colleagues go along with this? Senate Democrats--make no mistake about it--Senate Democrats will push for another vote on a War Powers Resolution next week to bring our troops home and will continue to force votes until Trump ends his Iranian blunder. Senate Republicans have a choice: Keep forcing Americans to pay the cost of Trump's forever war or stop kissing the ring and join us in it. I yield the floor.