Trump’s tariffs have caused prices to skyrocket
Donald Trump has shared his response on the cost of eggs in the US.
Trump’s attempts to ‘liberate’ the US in the economic market by introducing a huge number of tariffs hasn’t seemingly gone to plan.
Earlier this month, the 47th POTUS announced a 10 percent ‘baseline’ tax would apply globally – with higher rates for a 60-strong country list dubbed as Trump’s ‘worst offenders’.
His announcement has earned him the ire of a few countries on the list, as the US and China have now entered in a trade war that neither are willing to give up.
Since then China have imposed their own tariff increases on the US, going from 34 to 125 per cent – something which Trump wasn’t too pleased about.
This ongoing tug-of-war has seen US stock markers suffer a big blow, with the new restrictions set to cost consumers billions of dollars.
However, despite this, the POTUS has maintained the belief that consumer prices are, in fact, at an all-time low.
Donald Trump has introduced many tariffs since coming into office (Chris Kleponis/CNP/Bloomberg via Getty Images)
Writing on his social media platform, Truth Social, on Tuesday (April 16), he said: “The United States is taking in RECORD NUMBERS in Tariffs, with the cost of almost all products going down, including gasoline, groceries, and just about everything else. Likewise, INFLATION is down. Promises Made, Promises Kept!”
Many everyday items have risen in price following Trump’s introduction of tariffs, with Americans being urged to buy ten essential items before Trump’s tariffs skyrocket them in price – but eggs are apparently not one of them.
Speaking to reporters on Friday (April 18), Trump mentioned Agriculture Secretary Brooke Rollins, and said she was ‘doing a great job’.
He then claimed the prices of eggs are down a whopping 87 percent ‘but nobody talks about that’, adding: “You can have all the eggs you want. We have too many eggs. In fact, if anything, the prices are getting too low. So I just want to let you know that the prices are down.”
According to People Magazine, the Department of Agriculture reports the average wholesale price of eggs on April 19 was $3.13, though that is up from the week before.
Trump maintains the claim that the price of eggs are low (Getty Stock Photo)
However, eggs came to a whopping $5.90 on average in February, the US Bureau of Labor Statistics reports.
Meanwhile, The Independent reports that egg prices hit an all-time high in March at $6.23 – a 25 per cent increase from January – following an avian flu epidemic.
“Price levels to the consumer have eased considerably from early-year highs but remain at levels not yet conducive to more than normal purchases needs.” the Department of Agriculture said in a statement.
Continuing on the topic of eggs, Trump reiterated that ‘prices are down’, adding: “Eggs, which they — you hit me so hard. I’ll never forget the first day, the first week in office, they were screaming at me about eggs.
“I said, ‘What’s going with eggs?’ They were doubling and tripling. I said, ‘I just got here.’ They were up like double, triple, and you couldn’t get any.
“They said you won’t have eggs for Easter. Well, you can have all the eggs you want.”
His comments about the price of groceries and gas, which he claims have dropped ‘substantially’ haven’t exactly been a hit with social media users.
Original Source: Here
