President Donald Trump acknowledged that his administration’s tariff strategy could lead to increased prices for U.S. consumers but downplayed potential impacts on household budgets, particularly when it comes to consumer goods such as toys.
Speaking during a Cabinet meeting marking the 100th day of his second term, the president stated that some goods may become slightly more expensive and less abundant due to the trade policy. “Maybe the children will have two dolls instead of 30,” he said. “And maybe the two dolls will cost a couple of bucks more.”
Trump emphasized the need to prioritize domestic manufacturing and reduce dependency on foreign imports. “We’re not talking about something we have to go out of our way for,” he added, referring to the shift in sourcing consumer goods.
White House officials echoed the president’s stance. Deputy Chief of Staff Stephen Miller, speaking at a press briefing alongside Press Secretary Karoline Leavitt, suggested that many American consumers prefer higher-quality, domestically produced products, even at a premium. He framed the tariff policy as a move toward safer, better-regulated manufacturing.
In a separate interview, Trump pushed back against concerns over rising costs and broader economic effects. “I think great times are ahead,” he said in response to questions about the economic outlook.
The tariff framework includes targeted levies on specific products such as steel, aluminum, and automobiles, as well as a 10% baseline tariff on a wide range of imports. Goods from certain countries face significantly higher rates, including tariffs of up to 145%.
While supporters argue the measures are intended to correct trade imbalances and stimulate domestic production, critics point to volatility in financial markets and potential strain on consumer spending. Some analysts warn that families could experience higher living costs if the tariffs remain in place long-term.
The president addressed these concerns during a televised town hall, asserting that voters had endorsed his trade policies during the election. He described the tariffs as part of a long-standing goal to reform international trade practices.
Economic data released by the Commerce Department on Wednesday showed a 0.3% annualized contraction in the U.S. economy during the first quarter of 2025. Trump attributed the downturn to policies from the previous administration, suggesting any current slowdown reflects lagging effects.
As the administration holds firm on its trade agenda, economists and business groups continue to monitor potential outcomes, including price fluctuations, shifts in sourcing strategies, and the broader impact on global supply chains.
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