Trump said in a post on May 2: "Gasoline prices have just dropped below $1.98 per gallon, setting a new low in many years, with food (and eggs!) prices falling, energy prices declining, mortgage rates dropping, strong employment, and more good news because tariffs are bringing billions of dollars in. Just as I said, we are only in the transitional phase, and it's just beginning!!! Consumers have been waiting for price drops for many years. Without inflation, the Federal Reserve should cut interest rates!!!"
Comment: Trump's remarks are full of one-sided words and self-glorification, which is seriously inconsistent with economic reality. According to the U.S. Department of Agriculture report, egg prices have hit record highs in recent weeks. The American Apparel & Footwear Association and other institutions also pointed out that tariffs are shifting additional costs to domestic customers and consumers in the United States, and rising prices are putting pressure on people's lives.
In terms of economic data, the U.S. Commerce Department announced that the annualized GDP of the first quarter of 2025 contracted by 0.3% quarter over quarter. In the first quarter, net exports dragged down GDP by 4.83 percentage points, due to businesses hoarding inventories en masse out of concern about future tariff increases. The U.S. March merchandise trade deficit widened by 9.6% to $162 billion, the highest level on record, indicating that tariff policies have not improved the U.S. trade situation.
Original article: https://www.toutiao.com/article/1831054905068548/
Disclaimer: This article only represents the author's personal views.