The former President Donald Trump struck an impressive tone of optimism about the current state of the U.S. economy in a speech. His comments came at a casino in Pennsylvania, the essential battleground state for the 2024 elections. He emphasized his commitment to cutting costs for Americans. He drew attention to a number of initiatives aimed at alleviating soaring financial pressures on homes.
During his speech, Trump gleefully described tariffs as his new “favourite word.” He asserted that these import taxes have rescued hundreds of billions of dollars for the United States. He argued that these dollars could be recaptured and reinvested into the American economy to deliver savings directly to American families facing rising costs.
Unsurprisingly, Trump shored up his case with a bevy of new policy changes implemented by his administration. He called out the repeal of fuel efficiency standards and the establishment of Trump-branded Individual Retirement Accounts for children. He framed these moves as crucial steps to bring down the cost-of-living crisis many families are experiencing across the country.
In reality, it was Trump who announced that his administration had lifted dozens of food product tariffs. This decision will bring down grocery prices, which will be a great relief to stressed out consumers. For instance, he focused on the fact that “prices are coming down tremendously,” trying to calm voters who are worried about rising prices.
“I have no higher priority than making America affordable again,” – Donald Trump
As you might expect, during his televised speech Trump took credit for his administration’s economic successes. He too ruled out any concern over inflation—he called it a “Democratic hoax.” He certainly seemed to feel that he had the power to control the narrative around the state of the economy and the challenges we face.
Not everyone shares Trump’s optimistic view. Alaina Hunt, a designer from Oklahoma City, lost her job when Trump’s steel and aluminum tariffs kicked in. These tariffs struck fear in every sector, affecting workers like her. She expressed frustration at the current economic conditions: “I’m like, I’m just going to go die now because this cannot be.”
Corn and soybean farmer Brad Smith, who farms in northwestern Illinois, expressed concerns about the broader economy as a whole. While acknowledging the impact of Trump’s trade war with China on his business, he stated, “There’s probably bigger things at play other than just the soybean and corn market.”
Despite these criticisms, that’s not going to stop people like John Mohring, an angry construction worker from Kenosha, Wisconsin from supporting the former president. Mohring is a staunch Trump supporter who thinks his policies are working and has high expectations for the future of the economy with him in charge.
Trump’s comments come at a time when the conversation around America’s economic recovery from pandemic inflation is still very much ongoing. Likewise, millions of Americans have been feeling heroic as grocery prices, food inflation, and the cost-of-living crisis smash records. As much as these voters like Trump’s proposed answers, they are confused as to how his answers will really tackle the intricate problems they are up against.