Trump Acknowledges Tariff Impact, Blames Predecessor for Economic Downturn

President Trump acknowledged on Wednesday that his tariffs on China might result in fewer goods available and at increased prices. Economists have cautioned that these tariffs could disrupt the supply chain and lead to higher costs for consumers. However, the president maintained that the primary burden of these tariffs falls on China.

During a Cabinet meeting at the White House, the president suggested that Americans do not necessarily need many of the goods imported from China. He stated that while consumers might see fewer toys on shelves and slightly higher prices for a period, it wouldn't be a significant issue. He also noted that many Chinese goods are not essential.

The range of U.S. imports from China extends beyond toys to include various items such as electronics, clothing, household goods, appliances, and construction materials. The president has expressed his belief that the tariffs on Chinese goods will eventually be significantly lower than the current levels.

These remarks were made shortly after the Commerce Department reported a contraction in the U.S. domestic gross product during the first quarter of 2025. The president, despite taking credit for the stock market's performance after his election, attributed the economic downturn to his predecessor. He stated that the tariffs would soon begin to have an impact and that companies were starting to relocate to the U.S. in large numbers.

Later in the day, the president further emphasized this point, suggesting that the economic performance of the next quarter could also be attributed to his predecessor. Previously, Mr. Trump had downplayed the possibility of higher prices resulting from the tariffs. He took executive actions this week to mitigate the impact of the 25% tariffs on foreign cars and auto parts. A recent poll indicated that a majority of Americans believe the administration is not focusing enough on lowering prices and is overemphasizing the implementation of tariffs.