President Donald Trump, celebrating his first 100 days in office, used a wide-ranging interview on Meet the Press with Kristen Welker to vigorously defend his tariff policies and project confidence about the U.S. economy. Trump dismissed concerns that tariffs would raise prices for American consumers and insisted they would ultimately strengthen the country’s economic foundation.
Make Us Rich: “I think tariffs are going to be great for us because it’s going to make us rich,” Trump declared when asked about the impact of his escalating trade policies.
- When pressed about earlier comments suggesting Americans might have fewer goods, such as children owning fewer dolls, Trump pushed back on the idea that he was admitting prices would rise. “No. No, I’m not saying that. I’m just saying they don’t need to have 30 dolls. They can have three. They don’t need to have 250 pencils. They can have five,”
- Trump went on to argue that many imported goods are unnecessary luxuries. “We don’t have to waste money on a trade deficit with China for things we don’t need, for junk that we don’t need.”
Energy Prices: Trump also pointed to falling energy prices as proof that Americans were already benefiting economically. “Prices are down on groceries. Prices are down for oil. Prices are down at tremendous numbers for gasoline…Gasoline is thousands of times more important than a stroller or some place?” he argued.
Not A Tax: President Trump framed tariffs not as taxes but as strategic incentives to push companies to manufacture domestically. “I don’t view it as a tax. I view it as an incentive for people to come into the United States and build plants, factories, offices, a lot of things.”
- Trump also repeated a controversial claim that tariffs were largely absorbed by foreign countries and companies rather than passed on to U.S. consumers. “The country eats the tariff. The company eats the tariff. And it’s not passed along at all,” he asserted, contradicting the views of many economists.
Permanent: When asked whether he would ever take permanent tariffs off the table, Trump was adamant: “No, I wouldn’t do that because if somebody thought they were going to come off the table, why would they build in the United States?”
The Fed: Turning to monetary policy, Trump made it clear he believes the Federal Reserve should cut interest rates. “He should lower them. And at some point, he will,” Trump said, referring to Fed Chair Jerome Powell. Trump added a personal critique, calling Powell “a total stiff” and suggesting animosity between the two men.
- Despite past friction, Trump said he had no plans to remove Powell: “I’m not — you know, I get to change him very quickly anyway. You know, it’s in a very short period of time.”
Recession Fears: Wrapping up the conversation on the economy, Trump remained characteristically optimistic. Asked if a recession could be looming, Trump replied, “Anything can happen. But I think we’re going to have the greatest economy in the history of our country. I think we’re going to have the greatest economic boom in history.”
Bottom Line: Despite some analysts arguing that President Trump was pulling back is support of tariffs, the President showed zero signs of wavering on tariffs of any kind.
