US President Donald Trump has altered his narrative on the economic implications of his tariff policies, urging Americans to accept higher prices and modify their consumption habits. According to a report by The Hill, Trump stated that as his tariffs take effect, Americans must prepare for economic uncertainty by "buying less" and "paying more."
Previously, Trump and his economic team emphasized that the tariffs would cause short-term pain but promised that market volatility would eventually stabilize. However, the latest White House messaging signals a shift, with Trump downplaying his campaign-era commitments to reduce costs and "Make America Wealthy Again." Instead, he is now advising Americans to adjust their consumer behaviors in light of rising prices.
In a Sunday interview with NBC, Trump addressed whether tariffs would lead to inflation. While asserting that tariffs would ultimately "make America wealthy," he also suggested Americans cut back on purchasing "unnecessary items." Citing examples like children's toys and pencils, he said, "They (children) don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five." Trump admitted that prices for these goods might increase, a significant contrast to his earlier criticisms of inflation and promises to lower living costs during his campaign.
Economic analysts on Wall Street have warned that the risk of a recession is growing. Trump acknowledged these concerns, describing the economy as being in a "transition period" and suggesting that a short-term recession would be tolerable.
However, public sentiment appears to be turning against him. A CNN poll found that nearly 60% of American adults believe Trump's policies are worsening the economy, while a Gallup survey revealed that 89% of respondents expect tariffs to drive prices higher.
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