Donald Trump announced the decision in the case objective on Friday. The new exemptions, which took effect retroactively at midnight on Thursday, mark a sharp shift in the stance of the US president, who has long argued that the high import tariffs he introduced earlier this year do not fuel inflation.
“In some cases” they may raise prices, said Donald Trump when asked about the reasons for his decision on Air Force One. He stressed, however, that overall, there is “virtually no inflation” in the United States.
Asked if further changes were planned, Trump told reporters “I don't think it's necessary.” “Coffee prices were a bit high, now they will come down in a very short time,” he added.
According to some media Donald Trump failed to keep his biggest campaign promisewhich was the fight against inflation that plagued Americans during Joe Biden's administration. Inflation in the US was 3% in September. on an annual basis and remains at a similar level as before the current president took office.
Donald Trump “puts out the fire he started”
Democrat Richard Neal said the Trump administration was “putting out a fire of its own making and claiming it's progress.”
“The Trump administration is finally publicly admitting what we all knew all along: Trump's trade war is raising costs for people,” Neal said. “Since the introduction of these tariffs, inflation has increased and industrial production has been shrinking month by month.”
Democrats won a series of victories in state and local elections in Virginia, New Jersey and New York, where growing voter concern about affordability, including high food prices, was a key issue, Reuters writes.
See also: A record deal worth USD 350 billion. Donald Trump lowers tariffs
Donald Trump's sudden U-turn on tariffs
The Trump administration on Thursday announced framework trade agreements that, when finalized, will eliminate tariffs on certain food products and other goods imported from Argentina, Ecuador, Guatemala and El Salvador.
Friday's list includes products that American consumers routinely buy to feed their families at home. Many of them saw double-digit price increases year on year. The list includes over 200 products, from oranges and peppers to cocoa, ingredients used in food production and fertilizers.
See also: One year since Donald Trump was elected president. “He didn't keep his greatest promise”
The White House, in a briefing note on the order, said it followed “significant progress the president has made in ensuring more reciprocal terms in our bilateral trade relationship.”
It said Trump had decided that certain food products could be exempt because they were not grown or processed in the United States, following nine framework agreements, two definitive trade agreements and two investment agreements.
Ground beef was up almost 13% in September, the most recent data available. more expensive, according to CPI data, and steaks cost almost 17 percent. more than a year ago. Price increases for both types of meat were the largest in more than three years, dating back to a time when inflation was near its peak during the term of Trump's predecessor, Democrat Joe Biden.
Source: Reuters
