Exit polls revealed that widespread dissatisfaction with the economy played a significant role in driving voters to Trump.
During the Biden-Harris administration, inflation surged to over 9%, a 40-year high. Negative economic perceptions weighed heavily on President Joe Biden and Vice President Kamala Harris, with a growing number of people feeling worse off under the current administration—surpassing even the economic struggles of the Great Recession, according to exit poll data.
Inflation has since eased to 2.7% as of November. The most recent Consumer Price Index report showed price drops on certain food items like rice, flour, and bacon. However, the cost of eggs has soared due to an avian flu outbreak.
Trump has vowed to reduce prices by ramping up American energy production, although domestic oil production under the Biden administration reached record levels. He also proposed imposing tariffs, a move that has raised concerns among economists who warn that consumers could ultimately bear the burden of higher taxes on imported goods.
Trump has proposed imposing high tariffs on China, Mexico, and Canada. According to the U.S. Department of Agriculture, Mexico and Canada are the country’s top two agricultural product suppliers, with Mexico ranking first and Canada third.
When NBC’s Kristen Welker asked if he could guarantee that Americans wouldn't face higher costs due to the tariffs, Trump was noncommittal.
"I can't guarantee anything. I can't guarantee tomorrow," he responded, before adding that prior to the coronavirus pandemic, he had overseen "the greatest economy in the history of our country."
0 Comments