""We're going to be hitting 1.5% pretty soon," Trump told reporters Monday. "It's all coming down.""
"On Friday, Trump scrapped his tariffs on beef, coffee, tea, fruit juice, cocoa, spices, bananas, oranges, tomatoes and certain fertilizers, saying they "may, in some cases" have contributed to higher prices."
""They're in this very tough position where they've developed a reputation for not caring enough about costs, where the tools they have available to them are unlikely to be able to help people in the short term," Ramamurti said."
"But those are largely "gimmicky" moves unlikely to move the needle much on inflation, said Bharat Ramamurti, a former deputy director of Biden's National Economic Council."
Trump promises to revive factory jobs, lower prescription drug costs, and drive down inflation while echoing past claims that elevated inflation is transitory. He promises measures such as a $2,000 rebate on tariffs and extending 30-year mortgages to 50 years to lower monthly payments. Trump removed tariffs on many food items, attributing some price increases to those levies. Voters swung toward Democrats over affordability concerns, signaling frustration with unmet campaign promises. Analysts call the measures gimmicky and likely insufficient to materially reduce costs in the short term, while critics note a reputation for not prioritizing consumer costs.
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