Summary

Trump’s sweeping global tariffs are causing rising consumer prices, market losses, and job risks, but his administration defends them as necessary for long-term economic independence.

Critics warn the tariffs hurt low-income households dependent on cheap imports, especially from China.

Officials argue the American dream isn’t about “cheap baubles,” but higher living standards. However, economists say tariffs worsen inflation and housing affordability.

Despite past GOP support for cheap goods, MAGA allies now downplay short-term pain.