Tariff Derangement Syndrome

Media’s Trump Tariff Inflation Fear Mongering Turns Out To Be Total Dud

Corporate media repeatedly predicted that President Donald Trump’s tariffs would lead to price hikes —only for those forecasts to be repeatedly proven wrong.

Trump imposed steep reciprocal tariffs on numerous countries on April 2 before announcing a 90-day pause that lowered most of them to a 10% baseline. Despite the 10% duties and persistent media warnings, inflation has not surged.

For instance, ABC News on March 26 cited “experts” to report that fresh tariffs “would ratchet up the global trade war, raising prices for an array of consumer goods and risking an economic slowdown.” While a May 13 CNBC piece acknowledged that inflation had “eased” in April despite the tariffs, it warned prices could rise as the duties took hold.

However, inflation also rose less than expected in May, falling to a four-year low.

“I think that a lot of Democrats are in favor of tariffs, but now that President Trump is leading the charge, they can’t be,” Bessent said. “And so they call them the Trump tariffs. And all these predictions have just been baseless and a flop — and nobody wants to admit it.”

Read more...