When Americans stepped into voting booths last November, a prominent issue for them when it came to deciding who to elect president was rising costs in the United States. Now, a month into the new Trump administration, prices continue to rise and the commander in chief’s focus is set on tariff implementation.
On this week’s episode of Capitol Gains, Yahoo Finance Senior Columnist Rick Newman talks with anchor Madison Mills and Washington Correspondent Ben Werschkul about Trump's tariff strategy and why the president also needs to put focus on rising costs in the country.
A major kitchen table issue for Americans is the costs of goods as well as inflation in the United States. “[Tariffs] are a tax on top of the regular cost of these products,” Newman says. “They push costs up and prices up. You can’t argue with what a tariff is.”
Not only are Trump’s latest tariffs likely to cause goods to increase in price, but the United States is also facing an egg crisis — tied to avian flu outbreaks across farms and egg producers — that is negatively impacting costs in the United States.
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“Egg inflation is up more than 50% year over year,” Newman explains. “Trump has had almost nothing to say about this. Luckily for Trump, eggs are not gasoline (RB=F). If it was gasoline that was up 50% year over year, it would be a national crisis.”
Only time will tell how President Trump will handle these prominent issues impacting everyday American consumers.
To learn more, listen to the full episode of Capitol Gains here. For more expert insight and the latest market action, click here to watch more Capitol Gains.
Capitol Gains is Yahoo Finance’s unique look at how US government policy will impact your bottom line long after the Presidential election polls have closed.
This post was written by Lauren Pokedoff.