"Look, they got them up. I’d like to bring them down. It’s hard to bring things down once they’re up. You know, it’s very hard," he said in the interview published Thursday.
President-elect Donald Trump is acknowledging it may be difficult to bring down grocery prices, despite making it a key tenet of his presidential campaign.
In an interview with Time magazine, which named him person of the year for 2024, Trump said he nevertheless believes it'll happen through lower
energy costs and supply chain improvements.
Asked whether his presidency would be a "failure" if grocery prices don't come down, Trump responded it would not,
while blaming the Biden administration for the way it handled the inflation that led to higher food prices in the first place.
"Look, they got them up. I'd like to bring them down. It's hard to bring things down once they're up. You know, it's very hard," he said in the interview published Thursday.
Food prices have indeed soared since the onset of the Covid pandemic in
the spring of 2020, rising 23% overall during that period, much of which
has coincided with President Joe Biden's tenure in the White House.
President-elect Donald Trump is acknowledging it may be difficult to bring down grocery prices, despite making it a key tenet of his presidential campaign.
In an interview with Time magazine, which named him person of the year for 2024, Trump said he nevertheless believes it'll happen through lower
energy costs and supply chain improvements.
Asked whether his presidency would be a "failure" if grocery prices don't come down, Trump responded it would not, while blaming the Biden administration for the way it handled the inflation that led to higher
food prices in the first place.
"Look, they got them up. I’d like to bring them down. It’s hard to bring things down once they’re up. You know, it’s very hard," he said in the interview published Thursday.
"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.
Trump has promised to further increase American energy production. It is already at all-time highs.
He also did not specify how he would fix any supply chain issues, pivoting instead to complaints about the Biden administration's incentives for electric vehicles.
In fact, experts say Trump's much-talked-about tariffs proposals would
likely exacerbate supply chain woes. It already happened during Trump's
first administration, when ocean container shipping market rates spiked
more than 70% in 2018 after he announced new tariffs, according to
Reuters.
“Trump’s import tariffs are ‘history repeating’ and will cause a spike in
ocean container shipping markets — with consumers picking up the cost,” Peter Sand, chief analyst at the shipping pricing platform Xeneta, told Reuters in September.
Food prices have indeed soared since the onset of the Covid pandemic in
the spring of 2020, rising 23% overall during that period, much of which
has coincided with President Joe Biden's tenure in the White House.
https://www.nbcnews.com/business/consumer/trump-says-hard-bring-grocery- prices-down-why-rcna183960
President-elect Donald Trump is acknowledging it may be difficult to bring down grocery prices, despite making it a key tenet of his presidential campaign.
In an interview with Time magazine, which named him person of the year for 2024, Trump said he nevertheless believes it'll happen through lower
energy costs and supply chain improvements.
Asked whether his presidency would be a "failure" if grocery prices don't come down, Trump responded it would not, while blaming the Biden administration for the way it handled the inflation that led to higher
food prices in the first place.
"Look, they got them up. I’d like to bring them down. It’s hard to bring things down once they’re up. You know, it’s very hard," he said in the interview published Thursday.
"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.
Trump has promised to further increase American energy production. It is already at all-time highs.
He also did not specify how he would fix any supply chain issues, pivoting instead to complaints about the Biden administration's incentives for electric vehicles.
In fact, experts say Trump's much-talked-about tariffs proposals would
likely exacerbate supply chain woes. It already happened during Trump's
first administration, when ocean container shipping market rates spiked
more than 70% in 2018 after he announced new tariffs, according to
Reuters.
“Trump’s import tariffs are ‘history repeating’ and will cause a spike in
ocean container shipping markets — with consumers picking up the cost,” Peter Sand, chief analyst at the shipping pricing platform Xeneta, told Reuters in September.
Food prices have indeed soared since the onset of the Covid pandemic in
the spring of 2020, rising 23% overall during that period, much of which
has coincided with President Joe Biden's tenure in the White House.
https://www.nbcnews.com/business/consumer/trump-says-hard-bring-grocery- prices-down-why-rcna183960
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