Incoming president Donald Trump claimed during his Meet the Press interview that he’s uncertain if tariffs would lower inflation. Nevertheless, he also says he’s a “big believer” in tariffs.
Kristen Welker from NBC News asked Trump about the exorbitant tariffs he intends to place against three of the United States’ largest trading partners. Welker reminds viewers that Trump’s campaign promise has been to end inflation. “Economists of all stripes say that ultimately, consumers pay the price of tariffs. Can you guarantee that American families won’t pay more?” Trump responded, “I can’t guarantee anything. I can’t guarantee tomorrow, but I can say that if you look at pre-COVID, we had the greatest economy in the history of our country. I had a lot of tariffs on a lot of different countries, but in particular, China. We had no inflation.”
Not everyone online was impressed by Trump’s answer. One X user sarcastically wrote, “Bravo, MAGA.” Voters largely chose Trump to alleviate rising costs in goods. They perceived Trump to be a better leader for the economy, despite economists warning that Trump’s tariffs are likelier to worsen inflation. Additionally, businesses would either have to hoard imports or find alternative sources. Essentially, Americans will suffer the brunt of the supply chain disruption in the meantime.
Defending former tariff decisions
Welker clarified to Trump that his first-term tariffs made the cost of washing machines and tires go up. Trump staunchly defended his decision to put tariffs in place at the time by referencing Whirlpool washing machines that are made in Ohio. The president-elect said that Representative Jim Jordan informed him that Whirlpool was “going out of business.” By putting 50% tariffs on washing machines made in China and South Korea, Trump said the sales of Whirlpool and other American-made washing machines went “through the roof.”
The answer from Trump does not dispute the fact that appliances soared in price during his first term at the White House. Consumers ultimately shouldered the cost of the steep rise in prices. Additionally, not all American-brand appliances or cars are produced in the United States. Even Whirlpool has several factories in Mexico that will be slapped with Trump’s 25% tariff proposal. Given the president-elect’s answer, expect hard times ahead.
Published: Dec 10, 2024 06:16 am