(WASHINGTON) — President-elect Donald Trump campaigned relentlessly on grocery prices in the 2024 race, vowing to bring down costs quickly for American families if given four more years in the White House.
But in an interview with Time in conjunction with being named the magazine’s “Person of the Year,” Trump now says doing that will be a “very hard” task.
Trump was asked if his presidency would be considered a “failure” if he didn’t deliver on his promise to slash Americans’ food bills.
“I don’t think so. Look, they got them up,” referring to the Biden-Harris administration. “I’d like to bring them down. It’s hard to bring things down once they’re up. You know, it’s very hard,” Trump said.
The president-elect then added he believed lower prices were possible through boosting energy production and solving supply chain issues.
“But I think that they will. I think that energy is going to bring them down. I think a better supply chain is going to bring them down. You know, the supply chain is still broken. It’s broken,” Trump said.
Just last week, Trump told NBC’s “Meet the Press” that he won the election because of immigration and the economy.
“I won on the border, and I won on groceries,” he told NBC’s Kristen Welker. “Very simple word, groceries. Like almost — you know, who uses the word? I started using the word — the groceries. When you buy apples, when you buy bacon, when you buy eggs, they would double and triple the price over a short period of time, and I won an election based on that. We’re going to bring those prices way down.”
Exit polls showed deep discontent with the economy was a big factor in driving voters to Trump.
Inflation spiked to more than 9% during the Biden-Harris administration, a 40-year high. Negative views on the economy plagued President Joe Biden and Vice President Kamala Harris, with the share of people saying they’ve gotten worse off under the current administration surpassing even Great Recession levels, according to exit poll analysis.
Inflation has since cooled to 2.7% as of November. The latest CPI report found some food items like rice, flour and bacon fell over the past year. But the cost of eggs skyrocketed because of an avian flu outbreak.
Trump said he will bring down prices through increasing American energy production, though domestic oil production under the Biden administration’s reached record levels, as well as through tariffs.
The latter proposal has sparked alarm from many economists, who warn consumers will ultimately be saddled with the effects of slapping taxes on imported goods.
Trump so far proposed high tariffs on China, Mexico and Canada. Mexico and Canada account for the United States’ first and third largest suppliers of agricultural products, according to the Departure of Agriculture.
Asked by NBC’s Welker if he could guarantee Americans won’t pay more because of tariffs, Trump demurred.
“I can’t guarantee anything. I can’t guarantee tomorrow,” he said before going on to claim that before the coronavirus pandemic he had the “greatest economy in the history of our country.”
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