‘I Couldn’t Care Less’: Trump Reveals His True Stance on Inflation

It’s the Donald Double Whammy.

Grocery price are not “coming down fast,” as U.S. President Donald Trump promised. And Trump’s tariffs are about to boost the price of everything we buy that’s imported—from cars to gasoline to clothing to shoes to computers, cellphones, toys and, yes, groceries, too. America imports one-fifth of our food from abroad, and tariffs will make fruits and vegetables more costly.

Two of the false promises Trump made during the election will be haunting us.

Trump did not tell inflation-afflicted voters before November that a vote for Trump was a vote for more pain.

First, he pledged to fix inflation. The economy was issue number one for most voters, and Trump attributed his victory to Americans’ anger over food prices. He promised “inflation will vanish completely,” and vowed “prices will come down... and they’ll come down fast... with everything.”

“When I win, I will immediately bring prices down, starting on Day One.” Right up to election day, Trump assured us, “A vote for Trump means your groceries will be cheaper.”

Trump never revealed his plan for dealing with inflation because he had no plan. And after the election, he admitted prices were not going to come down. “It’s hard to bring things down once they’re up,” he acknowledged a few weeks later. “Very hard.”

By January, Trump confirmed that inflation was not his No. 1 issue, and by Inauguration Day, he ceased talking about it at all. Prices did not start coming down on Day One, and still haven’t on Day 75. They won’t because of his second false claim.

Trump promised that the tariffs he imposed would be paid by other countries, not by American consumers: “It’s not going to be a cost to you, it’s going to be a cost to another country.”

“I am going to put tariffs on other countries’ [goods] coming into our country and that has nothing to do with taxes to us.”

Trump knew this was wrong. As the right-leaning Tax Foundation explained, a tariff is simply “a tax on people who buy things from foreign businesses.” The conservative Cato Institute reports “overwhelming evidence that Americans bore the brunt” of Trump’s first-term tariffs and will do so again.

And now, finally, Trump admits it himself. When confronted with the fact that his 25% tariff on autos and auto parts will cause prices to surge, Trump did not dispute that tariff costs would rest on the backs of American consumers. Instead, he cheered!

“I couldn’t care less,” said Trump. “I hope they raise their prices, because if they do, people are going to buy American-made cars.”

Trump understands perfectly well that tariffs are not “a cost to another country.” He no longer says, “It’s not going to be a cost to you.” Now he says Americans will feel “some pain,” but that it’s a good thing.

Trump did not tell inflation-afflicted voters before November that a vote for Trump was a vote for more pain.

Can Trump’s tariffs increase manufacturing in the United States by forcing us to buy American-made cars? Economists are dubious. To begin, there aren’t any 100% “American-made cars.” “Almost 60% of the parts used in vehicles that are assembled in the country” are imported.

Auto manufacturers created a system based on free trade among the U.S., Mexico, and Canada in which parts made in any of the three countries may freely move among the others. Then cars assembled in one country may be sold into another.

Half of the parts in a “made-in-the-USA” Cadillac are manufactured in Mexico. Thirty percent of the parts in an Acura assembled in Mexico come from the U.S. or Canada.

Trump claims the trade agreement underlying this system is “unfair” and that Mexico and Canada “took advantage of the United States.” “Who would ever sign a thing like this?” Trump recently asked.

Donald Trump, actually. The U.S. Mexico Canada Agreement (USMCA) was negotiated and signed by Trump on November 30, 2018. Then, he hailed USMCA as “a colossal victory for our farmers, ranchers, energy workers, factory workers, and American workers in all 50 states.”

“An especially big win for American auto workers,” Trump bragged. “The USMCA is the fairest, most balanced, and beneficial trade agreement we have ever signed into law.”

Back then it was “incredible,” “the best agreement we’ve ever made.” Now it’s a target for Trump’s irrational tariff mania. What will come of tariffs on everything we buy from abroad? Unemployment, as cars and other goods become more expensive and demand plummets. More unemployment as other countries retaliate with tariffs that bar American exports. And more inflation, with China, Canada, and Mexico tariffs alone costing the typical household $1,600 to $2,000 a year.

Trump has moved on from his false promises. And American families are left to bear the costs.