Trump Admits Tariffs Could Create Shortages, Hike Prices
When President Donald Trump ordered the implementation of his so-called “Liberation Day” tariffs on April 2, he proclaimed that it was “now our turn to prosper.”
Exactly four weeks later, Trump delivered a very different message to the American people: You’ll get less and you’ll pay more.
“Somebody said, ‘Oh the shelves are going to be open.’ Well, maybe the children will have two dolls instead of 30 dolls,” Trump said Wednesday during a cabinet meeting open to the press. “And maybe the two dolls will cost a couple bucks more than they would normally.”
Some prosperity, huh?
You might conclude that the costs and consequences of Trump’s global trade war are becoming impossible to ignore—even for a president who has stubbornly refused to acknowledge the reality of his own tariff policies. Even though Trump has previously warned about the possibility of some economic “pain” associated with the tariffs and retreated from the more aggressive plan he initially outlined on April 2, Wednesday’s comments are the most direct admission yet that tariffs will directly reduce Americans’ standard of living.
Did Americans accidentally elect Sen. Bernie Sanders (I–Vt.), who once railed against the wide variety of
Article from Reason.com
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