WASHINGTON - Maryland Democratic lawmakers expressed dismay Thursday over President Donald Trump's tariffs on all imported goods, a move that caused the financial markets to tumble and some manufacturers to announce layoffs.

"For years, we've been told to take Donald Trump seriously, but not literally. We were told his incoherent economic philosophy and outrageous rhetoric were merely negotiating tactics for a master in the art of the deal," Rep. Steny Hoyer said Thursday. "What he did yesterday ought to throw any such nuanced interpretation aside. What he did was stand in the Rose Garden and proudly announce the largest tax increase on middle-class Americans in our nation's history — one that will cost the average American family thousands of dollars each year."

The United States will impose a minimum baseline of 10% tariffs, with higher, "reciprocal" tariffs on nations that tax U.S. exports, including a 20% rate for the European Union and 34% duty on China, Trump said Wednesday, which he coined "Liberation Day."

The White House said other countries have taken advantage of the U.S. — the world's leader in consumer spending — with high tariffs and other trade barriers, which Trump pledged to stop. The president declared a national emergency in an executive order Wednesday, citing economic and national security implications as a result of the trade imbalance.

Stellantis, maker of more than a dozen vehicle brands including Chrysler, Dodge and Jeep, announced it was pausing production at its plants in Canada and Mexico and temporarily furloughing about 900 U.S. workers. Appliance manufacturer Whirlpool announced layoffs of 650 employees.

"It’s not Liberation Day, it is a National Sales Tax Day, because that will be the result of the president’s action," Sen. Chris Van Hollen said Wednesday. "We’ve heard the president make a lot of promises about what these tariffs will do, it's like a miracle cure. They're going to revive American manufacturing, they’re going to stop fentanyl, they're going to balance our budget, they're going to make all of us rich and all those other countries are going to pay for it. The problem is, none of that is true. Other countries don’t pay these tariffs, we do."

Economists estimate the tariffs will cost the typical American household $4,200 more per year, the National Association of Home Builders said it will make new homes cost up to $10,000 more and a researcher at Cornell University said a new car could cost up to $20,000 more as a result, Van Hollen said. He also expects opposing countries to retaliate, causing a trade war.

These tariffs could also have a heightened effect on Marylanders through the Port of Baltimore.

"The 25% tax on foreign cars, in particular, could devastate the Port of Baltimore, which supports nearly 140,000 jobs ranging from longshoreman to truck drivers," Rep. Johnny Olszewski wrote on X . "The Port, only recently reopened after the collapse of the Key Bridge, is the nation's top importer of foreign-made vehicles. The hardworking Marylanders who rely on the Port, along with factory workers and farmers around the country, are all at risk of losing their livelihoods."

In response, Sen. Angela Alsobrooks sought unanimous consent Wednesday for her proposed Tariff Transparency Act, which would demand a nonpartisan study on the tariffs to see how they affected Americans, but Republicans blocked it.

Andy Harris on X: 'Tariffs will put the American worker first'

Maryland's lone Republican in Congress, Rep. Andy Harris, voiced his support of the tariffs on X : "President Trump's reciprocal tariffs will put the American worker first and bring fairness back to international trade. America is being respected again."

But the stock market has sided with the opposition. The Dow Jones closed down nearly 1,700 points Thursday. The S&P 500 fell more than 4% Thursday, its worst day since 2020, while European and Asian stock markets also took dives.

"The stock market is plunging in response to reckless tariffs," Rep. April McClain Delaney said. "Yet another example of how short-sighted economic policies hurt hard-working Americans. These tariffs impact more than big corporations; they raise prices for families, threaten jobs and shake investor confidence."

Rep. Glenn Ivey noted on X: "On this day in 1948, Former President Harry S. Truman signed the Marshall Plan into law, which would stimulate and support the economies of western and southern European countries affected by WWII. That is diplomacy. Yesterday, we witnessed a President upend the world order and cripple our allies only to line his billionaire buddies' pockets. We won't stand for it."