Trump vowed to reduce prices, but his policies have fueled US inflation | Steven Greenhouse
‘Even though economists warned that tariffs would be inflationary, Trump has enthusiastically embraced them’ Donald Trump successfully campaigned for his second term two years ago promising to reduce prices on day one , but ever since he returned to the White House, he has done little to fight inflation or reduce prices. Instead, some of his most important policy decisions – most notably his war…
Former U.S. President Donald Trump made campaign promises to reduce prices for Americans upon his return to the White House, but his policies have led to increased inflation instead. Economic experts had cautioned that Trump's adoption of tariffs would cause inflationary effects. Since taking office, Trump has supported Iran's war and implemented tariff wars, resulting in higher prices for various goods, including citrus fruits, steel, bananas, beef, and auto parts.
When the Supreme Court declared his initial tariffs illegal, he quickly imposed new 10% across-the-board tariffs, further driving up prices. A Fox News poll revealed that 77% of Americans disapproved of Trump's handling of tariffs. Trump had promised to halve energy and electricity prices, lower gasoline to under $2 per gallon, and reduce housing costs.
However, he failed to achieve any of these goals, with gasoline now averaging $4.28 per gallon nationally and housing costs remaining expensive. Trump's policies have been blamed for pushing up electricity prices and increasing the cost of electric vehicles by $7,500. His actions have also exacerbated inflation by raising interest rates, which has made it harder for Americans to afford homes.
Written by urgent.news from The Guardian US's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
