President Donald Trump’s promise to lower the cost of living for Americans has taken a backseat to his aggressive use of tariffs on both allies and adversaries. On Tuesday, 25% tariffs were imposed on all goods from Mexico and Canada, drawing criticism from Canadian Prime Minister Justin Trudeau. CNN’s Dana Bash highlighted the negative impact on American consumers during Inside Politics.
‘For example, prices for the average consumer could rise by $1,200 annually,’ Bash noted. ‘This is what Trump campaigned on—to improve affordability. So far, it hasn’t happened.’ Jeff Zeleny agreed, emphasizing that rising prices are not isolated but part of a broader economic challenge under Trump’s administration.
The stock markets reacted dramatically to the tariffs, dropping nearly 700 points shortly after they were implemented. Business and politics correspondent Vanessa Yurkevich reported that this trade war has erased all gains since Trump took office, leaving investors nervous about future price trends and business outlooks.
Major retailers like Target, Best Buy, and Walmart have already announced price increases. Yurkevich explained that consumer confidence is at risk as inflation rises, creating widespread uncertainty. The combination of soaring prices and market volatility underscores the unintended consequences of Trump’s tariff strategy.