Elected in large part due to voter dissatisfaction over high prices, Trump is imposing reciprocal tariffs on allies and adversaries alike. This includes a 10% minimum tariff on all imports.
Trump pulled off the greatest political comeback in U.S. history after inflation hit a 41-year high under President Joe Biden. It has since come down but remained above the Federal Reserve’s preferred rate, and the cumulative price increases continue to bother consumers. Now he is betting his legacy and perhaps the success of the rest of his term on voters tolerating higher tariffs on imported goods.
Many 2024 voters hoped Trump would restore the pre-pandemic economy, during which both unemployment and inflation were low and the stock market hummed along. An economic downturn caused primarily
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