Donald Trump on Wednesday defended his aggressive tariff strategy, acknowledging it could lead to higher prices and fewer goods, including toys for children. “Maybe the children will have two dolls instead of 30,” Trump said, referring to China, on which his administration has imposed a 145% overall tariff. He insisted many of the goods being shipped to the U.S. are unnecessary and that fair trade deals are a top priority.
Retailers including Walmart, Target, and Home Depot have warned the administration that tariffs could significantly raise consumer prices, particularly ahead of the holiday season. Amazon reportedly considered displaying tariff-related price hikes on its website but backed off after discussions with Trump and former CEO Jeff Bezos.
In an ABC interview, Trump dismissed concerns from voters and economists about price increases, claiming “this is what I campaigned on” and asserting that China will bear the brunt of the tariffs.
No new trade agreements have been announced since Trump’s temporary pause on tariffs took effect April 9.
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