Derfor sliter Trump: – Gjennomskuet bløffen

Donald Trump is struggling in the upcoming midterm elections in November, with his campaign focusing heavily on the economy. A year and ten months after Trump's victory in the US presidential election, the economic reality for average Americans has worsened, with various key metrics declining. Republican observers are concerned that Trump's tough economic reality may cost him the support he has enjoyed in Congress so far.

Olav Chen, who leads allocation and global rates at Storebrand, noted that rising living costs have been at the top of the agenda. He was shocked by how expensive items like coffee, food, and taxis have become. Chen points out that the war in Iran and the trade war have significantly contributed to inflation. The MAGA movement, which focused on America First and domestic production, has faced a harsh reality as the government's policies have backfired on American households.

Goldman Sachs research revealed that tariffs have been the primary driver of inflation in the US economy, accounting for up to 0.8% on their own. Additionally, the Iran war and energy crisis have pushed inflation up by around 0.5%, according to the bank. Trump's main argument is that tariffs boost revenue and that the US has never been richer before.

However, he fails to acknowledge that corporate America has done well, earning profits while passing costs onto households. The American economy is on the verge of a fundamental transformation as tech giants invest billions in artificial intelligence (AI), with much of the funding coming from borrowing rather than company profits. This shift has driven up diesel prices and inflation, further damaging Trump's standing.