U.S. Sen. Kirsten Gillibrand held a virtual press conference Wednesday slamming President Donald Trump’s tariff tax hike, which is already wreaking havoc on the U.S. economy and raising prices for consumers.

In response to the tariffs, Gillibrand signed on to the bipartisan Trade Review Act, which would require congressional oversight over the president’s implementation of tariffs. She also signed on to a letter demanding that the Trump administration immediately repeal the tariffs.

Last week, Trump announced far-reaching tariffs on nearly all U.S. trading partners, sending the stock market tumbling and drawing criticism from allies across the globe. These destructive policies include a 10 percent baseline tariff on all countries, a 20 percent tariff on the European Union, and a 54 percent tariff on imports from China, on top of a previously announced 25 percent tariff on a broad range of imports from Mexico and Canada. Experts say that these tariffs represent the largest tax hike since 1951.

Trump’s tariffs are expected to drastically increase the cost of living for American consumers, as prices will rise for a range of products including food, clothing, gas, cars, electronics, and construction materials. If the tariffs remain unchanged, they will cost the average New York household roughly $3,800 extra per year. They will also devastate small businesses, lower life savings, and kill good-paying jobs across New York.

“By instigating a global trade war, President Trump is playing games with the American economy, driving up costs for hardworking families, and fueling inflation,” Gillibrand said. “I refuse to stand idly by as President Trump destroys our economy. That’s why I joined a bipartisan bill to reestablish limits on the president’s ability to unilaterally impose tariffs, and it’s why I’m demanding that the Trump administration repeal these ill-conceived tariffs immediately. I am committed to doing everything in my power to shield New Yorkers from these horrific tax hikes and hold the president accountable for the harm he’s causing.”

If passed, the Trade Review Act would impose congressional oversight over the president’s implementation of tariffs. Specifically, it would do the following:

— Require the president to notify Congress within 48 hours of imposing or increasing a tariff on imported goods. The congressional notification would be required to include the reasoning behind the tariff and an analysis of the potential economic impact on American businesses and consumers.

— Mandate that any new tariff will expire after 60 days unless Congress passes a joint resolution of approval.

— Give Congress the power to terminate any imposed tariffs through a joint resolution of disapproval.