Top New Yorkers say get ready to lose over $6,000.

New York's leader is reacting to President Trump's "Liberation Day"

Trump Announces America's "Liberation Day."

President Trump Signs Executive Orders At The White House
Getty Images
loading...

Trump's tariffs on a wide range of products from Canada, Mexico, China, and the European Union officially went into effect on Wednesday.

New York Gov. Kathy Hochul says this will hurt New Yorker's wallets.

"Tariffs are estimated to cost Americans upwards of $6,500, 401(k)s are plummeting and businesses that rely on tourism are feeling the negative impacts," Hochul stated.

For all the news that the Hudson Valley is sharing make sure to follow Hudson Valley Post on Facebook, download the Hudson Valley Post Mobile

Governor Hochul called the tariffs the largest tax hike in American history.

"Don’t be fooled, this so-called ‘Liberation Day’ is nothing but a reckless tax on hard-working New Yorkers that is hurting small businesses, driving up costs for families and alienating our long-standing global partnerships. This is not how you grow an economy, it’s how you tank one," she added.

Nextdoor

President Trump says the global tariffs will "Make America Wealthy Again."

President Trump Speaks At The House GOP Conference In Doral, Florida
Getty Images
loading...

Trump adds that international trading partners have "looted, pillaged, and raped" American industries for decades, leading to a loss of U.S. jobs and manufacturing.

Can You Guess: Beloved Coffee Chain In New York Named "Worst In America"

White House officials believe the tariffs will undo decades of countries "taking advantage of the U.S."

Hochul disagrees.

Keep Reading: Costco To Replace Ghost Neighborhood In Upstate New York

Getty Images
Getty Images
loading...

"Trump enacted the largest tax hike in American history, skyrocketed New Yorkers' costs by over $6,000 per year, and sent Wall Street into a full-blown panic," Hochul said in a second statement released about the tariffs. "Trump's tariff proposal isn't ‘liberating.’ It's destructive and devastating for the millions of Americans already struggling to make ends meet."

Tariffs Likely to Raise the Prices of These Common Items in NJ, NY, and PA

Tariffs Likely to Raise the Prices of these Common Items in NJ, NY, and PA

Gallery Credit: Matt Ryan

How Much More Might You Pay For Vehicles In New York

More From Hudson Valley Post