{"id":9967,"date":"2025-03-03T11:42:24","date_gmt":"2025-03-03T03:42:24","guid":{"rendered":"https:\/\/tingchao.xyz\/?p=9967"},"modified":"2025-03-03T11:42:28","modified_gmt":"2025-03-03T03:42:28","slug":"trump-has-glossed-over-high-prices-republicans-worry-it-will-cost-them","status":"publish","type":"post","link":"https:\/\/tingchao.xyz\/?p=9967","title":{"rendered":"Trump Has Glossed Over High Prices. Republicans Worry It Will Cost Them."},"content":{"rendered":"\n
\"\"
Record egg prices have added to the president\u2019s economic troubles.\u00a9\u00a0Spencer Platt\/Getty Images<\/figcaption><\/figure>\n\n\n\n

WASHINGTON\u2014President Trump promised during the campaign to lower prices on day one of his presidency. But with costs still high, Republicans are worried the same economic factors that helped Trump win the election could come back to bite him if inflation remains stubborn<\/a>.<\/p>\n\n\n\n

In his frequent public appearances and social-media posts, Trump is more likely to talk about federal workers, diversity programs and foreign policy than the price of eggs<\/a>. That is a contrast from last year\u2019s presidential campaign, when Trump, urged by his advisers, made high costs a centerpiece of his bid to retake the White House.<\/p>\n\n\n\n

Republicans, who still pin the blame on Trump\u2019s predecessor, say voters have been willing to give Trump some leeway to enact his agenda\u2014but they warn that goodwill might not last.<\/p>\n\n\n\n

\u201cI\u2019m nervous about it,\u201d said Stephen Moore, a veteran outside adviser to Trump on economic issues. \u201cThe Trump administration needs to keep its eye on what\u2019s happening with prices. It should be a top priority. The trend is a little bit troubling.\u201d<\/p>\n\n\n\n

Further compounding the political risks: Trump\u2019s far-reaching plans to impose stiff tariffs on foreign imports could drive up prices further, according to economists.<\/p>\n\n\n\n

Most economic data released so far doesn\u2019t capture Trump\u2019s time in office. But U.S. consumer confidence saw the biggest monthly decline<\/a> in four years in February, the Conference Board reported Tuesday. Core consumer price inflation was 3.3% in January, higher than economists had expected, and a survey by the University of Michigan also showed higher expected inflation in the coming year. As bird flu roils<\/a> the poultry industry, record egg prices have added to Trump\u2019s economic troubles.<\/p>\n\n\n\n

The personal-consumption expenditures price index\u2014the Federal Reserve\u2019s preferred gauge for inflation\u2014had better news<\/a> for Trump: It rose by 2.5% over the year through January, down from 2.6% in December, according to the Commerce Department.<\/p>\n\n\n\n

\u201cI don\u2019t feel like people are blaming him on that yet, but I think that\u2019s a risk you get three, six months down the road,\u201d said Georgia Gov. Brian Kemp, a Republican, in an interview on the sidelines of a recent National Governors Association meeting. \u201cIt\u2019s a risk for any politician.\u201d<\/p>\n\n\n\n

Kemp said Georgia voters were generally happy with Trump\u2019s performance so far and blamed former President Joe Biden for higher inflation.<\/p>\n\n\n\n

Though Trump repeatedly bashed Biden over prices during the campaign, he was at times reluctant to stay laser-focused on the issue.<\/p>\n\n\n\n

Trump\u2019s pollster, Tony Fabrizio, and other advisers regularly urged Trump to talk about inflation because they believed it was his best political weapon to win. But Trump was sometimes uninterested in talking points that his advisers provided on the subject, according to campaign officials. At one point in the fall, Trump told aides that it was \u201cboring,\u201d the officials said.<\/p>\n\n\n\n

\u201cHow many times can you say an apple has doubled in cost?\u201d he told supporters on Inauguration Day.<\/p>\n\n\n\n

In a recent survey, Fabrizio highlighted that cost-of-living issues remain top of mind for voters in 18 of the most competitive congressional districts. The analysis, which surveyed 1,000 registered voters<\/a> in those districts Feb. 11-13, found respondents favoring Democrats by 5 percentage points and 47% saying they approved of Trump\u2019s job performance.<\/p>\n\n\n\n

Trump is expected to provide an update on his economic agenda during a joint address to Congress on Tuesday.<\/p>\n\n\n\n

Rich Anderson, chairman of the Republican Party in Virginia, which is one of the few states to hold elections this year, said he thinks the president is doing what he can to turn the economy around but voters will need to see the effects in the coming months.<\/p>\n\n\n\n

\u201cThere will be a penalty to pay if there is a failure to deliver,\u201d Anderson said.<\/p>\n\n\n\n

Presidents have little ability to quickly lower prices, despite Trump\u2019s promises. Prices are influenced by a series of complex factors, from global supply chains to independent decisions made by central banks.<\/p>\n\n\n\n

Trump\u2019s barrage of early executive actions have focused largely on immigration and overhauling the federal government. Although they don\u2019t explicitly address prices, Republicans said some of those efforts could lower prices in the long term.<\/p>\n\n\n\n

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President Trump\u2019s early executive actions have focused largely on immigration and retooling the federal government and not on high inflation.\u00a9\u00a0Andrew Harnik\/Getty Images<\/figcaption><\/figure>\n\n\n\n

GOP Rep. Don Bacon, whose Nebraska district is one of the most hotly contested in the nation, said Trump\u2019s efforts to boost energy production would help drive down prices, but not immediately.<\/p>\n\n\n\n

\u201cI think it\u2019s too early to say if the president has acted on inflation,\u201d Bacon said, cautioning that \u201cit may take a while for tangible results for inflation to be seen.\u201d<\/p>\n\n\n\n

Trump, for his part, has argued to donors that inflation will go down as soon as oil companies drill more. \u201cInflation was 100% caused by energy,\u201d Trump told donors last year, according to audio of his remarks reviewed by The Wall Street Journal.<\/p>\n\n\n\n

Trump\u2019s desire for lower interest rates has triggered public criticism of Federal Reserve Chair Jerome Powell\u2019s handling of inflation. The Fed paused interest-rate cuts in January.<\/p>\n\n\n\n

Trump administration officials feel confident they will be able to decrease prices, but don\u2019t have a specific timeline for doing so, a White House official said. The official pointed to Trump\u2019s focus on cutting government spending through Elon Musk\u2019s Department of Government Efficiency and his efforts to roll back energy regulations as examples of early actions that could reduce prices. The official said the administration has also targeted certain expensive items such as appliances with regulatory changes.<\/p>\n\n\n\n

Trump has also announced a series of investments in the U.S. since winning the election, including from Apple, SoftBank, OpenAI and Meta. The companies have pledged to spend billions in the U.S. and create thousands of jobs, but most of the projects haven\u2019t started yet<\/a>.<\/p>\n\n\n\n

The president\u2019s plans to implement tariffs could also further boost inflation. Already, the president implemented 10% across-the-board tariffs<\/a> on Chinese goods, announced 25% tariffs on steel and aluminum, and called for a study of reciprocal tariffs, which would adjust U.S. tariffs to match those of other countries. He has also said he expects to move forward with 25% tariffs<\/a> on Mexico and Canada in coming days, as well as an additional 10% tariff on Chinese products.<\/p>\n\n\n\n

\"\"
A new tariff on aluminum imports set to take effect in coming weeks is expected to push up prices of canned beer and soft drinks.\u00a9\u00a0Justin Sullivan\/Getty Images<\/figcaption><\/figure>\n\n\n\n

The oil-and-gas industry was able to persuade Trump to reduce proposed tariffs on Canadian energy imports to 10% earlier this year after they argued higher tariffs would cause higher gas prices, creating bad inflation headlines in his first month in office, people familiar with the conversations said.<\/p>\n\n\n\n

The president has said tariffs could cause \u201csome pain\u201d for U.S. consumers. But he has said his administration doesn\u2019t need to study the potential effect of tariffs on prices.<\/p>\n\n\n\n

Sen. James Lankford (R., Okla.) partly attributed the drop in consumer confidence to Trump\u2019s hard-charging first month<\/a> in office, citing the tariff threats. Lankford said it was too late to speculate whether the public would have preferred more incremental\u2014or different\u2014actions by the administration.<\/p>\n\n\n\n

\u201cI think right now it\u2019s the uncertainty of all the changes,\u201d Lankford said.<\/p>\n\n\n\n

In a recent opinion column, Sen. Mitch McConnell (R., Ky.) warned that blanket tariffs would make it \u201cmore expensive to do business in America, driving up costs for consumers across the board.\u201d<\/p>\n\n\n\n

So far, the frustration that GOP lawmakers<\/a> have seen in their home districts has been focused largely on Musk\u2019s spending cuts<\/a> and some of Trump\u2019s foreign-policy comments. They haven\u2019t seen as much political pressure on prices yet, GOP strategists said. But that could change by the time they return home for summer recess.<\/p>\n\n\n\n

A Gallup poll conducted Feb. 3-16 found Trump\u2019s approval rating on the economy to be lower than at the beginning of his first term and below that of other recent presidents at the same point in their terms. The survey found Trump\u2019s approval rating on the economy to be 42%\u20146 percentage points lower than February 2017.<\/p>\n\n\n\n

Democrats, who have struggled to come up with an effective line of attack<\/a> against Trump, have also mostly kept the focus on Musk, but in recent weeks, some have turned back to the economy.<\/p>\n\n\n\n

\u201cInstead of even working on the economy, they\u2019ve been on an insane bender, settling political scores and fighting a bunch of culture-war nonsense that people wanted to be done with,\u201d said Ohio Democratic Rep. Greg Landsman.<\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON\u2014President Trump promised during the campaign to lower prices on day one of his presidency. But with costs still high, Republicans are worried the same economic factors that helped Trump win the election could come back to bite him if inflation remains stubborn. In his frequent public appearances and social-media posts, Trump is more likely to […]<\/p>\n","protected":false},"author":11,"featured_media":9968,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[1786,2148,1724],"class_list":["post-9967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-high","tag-prices","tag-trump"],"yoast_head":"\nTrump Has Glossed Over High Prices. 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