Trump's Tariffs and Iran Policy Stoke Inflation Despite Campaign Pledges
Trump promised lower prices on day one, but tariffs and foreign policy moves have pushed costs higher, polls show.
President Donald Trump built his successful 2024 campaign on a promise to slash prices for American consumers starting on his first day back in office. Months into his second term, however, several of his signature policy decisions have had the opposite effect, pushing inflation higher rather than taming it.
Economists repeatedly warned before and after the election that broad tariffs function as a tax on imported goods, raising costs that are typically passed on to consumers. Trump nonetheless moved aggressively on trade, imposing so-called "liberation day" tariffs that drove up prices on a wide range of products — from citrus fruits and bananas to steel, beef, and auto parts. After the Supreme Court struck down those tariffs as illegal, the administration quickly replaced them with new 10% across-the-board levies; a lower court subsequently found those unlawful as well.
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Trump's conflict with Iran has also been cited as a factor contributing to inflationary pressure in the United States. Together with the tariff wars, analysts say the cumulative effect of these policy choices has weighed on household budgets and eroded confidence in the administration's economic management.
The political fallout is measurable. A Fox News poll conducted this month found that 77% of Americans disapprove of Trump's handling of tariffs. Separately, more than one in five voters who supported Trump now say they disapprove of his overall job performance — a sign that economic discontent is cutting into his base.
The widening gap between Trump's campaign rhetoric on prices and his administration's actual policy record has become a central critique from economists and opposition lawmakers alike. Continue reading at Business | The Guardian.
