A day after signing steep new tariffs on Mexico, Canada and China, President Donald Trump acknowledged what economists, members of Congress and even some of his own aides — in their previous lives — have been saying all along: Americans may find themselves paying the costs.“THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),” Trump posted, in all capital letters, on his Truth Social platform.The message, which appeared in the hour before Trump arrived to his West Palm Beach, Florida, golf club for the second day in a row, amounted to an advance warning. Trump is serious about fulfilling his campaign promises to end illegal immigration, curb the flow of deadly drugs and rebalance continental trade. He blamed Joe Biden for the terrible economy and the rising cost of inflation he said reducing inflation is possible.
But doing so will be uncomfortable, Trump is suggesting, and could serve to undermine another of his top campaign vows: lowering costs for Americans.“WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID,” Trump wrote. “WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!”Instead of the new trade war lowering grocery or fuel prices, Trump on Sunday pointed to a result he never mentioned when he was running for president: annexing Canada as an American state.“Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada — AND NO TARIFFS!” he said, repeating an idea he’s floated repeatedly since winning the election late last year.
US consumer inflation unexpectedly accelerated last month, data showed Wednesday, in a moment of potential political peril for President Donald Trump, who quickly blamed the uptick on his predecessor Joe Biden, as per a report.
The cost of eggs and gasoline prices jumped last month, along with several other politically potent price points.Any sustained uptick in inflation could cause a political headache for Trump who campaigned on a pledge to tackle inflation and the cost of living.
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