US President Donald Trump’s words often diverge from his actions, particularly when it comes to economic policy. Ahead of his re-election, he vowed to “end inflation and make America affordable again,” but paused tariffs just a week later. He also claimed to have promised peace in Ukraine on day one, only clarifying that was said in jest.
As president, Trump has learned to manipulate narrative to suit his will, sometimes straying from reality. This often leaves a gap between what he says and what he does. In many cases, the administration’s actions are more important than the firehose of words.
For businesses like a US coffee import from Brazil, Trump’s words can be misleading. He claimed tariffs would come into force on 1 August, but then signed an executive order extending them to 8 August, just hours after making the statement. This lack of transparency has left many wondering how inflation can be “dead” if prices continue to rise.
Trump’s tariff agenda has also had a significant impact on US consumers. The Budget Lab at Yale estimates that his policies have resulted in an average per household income loss of $2,400. However, the president rarely talks about this impact and instead shifts blame to others, such as the Federal Reserve chair, Jerome Powell.
Recent data showing stalled labor markets has highlighted the challenges Trump’s economic strategy poses. The president fired a veteran official in charge of statistics without evidence, accusing them of rigging numbers. With higher tariffs in place on multiple countries, the administration is trying to stifle evidence of drawbacks and may even pitch handouts as proof of policy success.
For small businesses reliant on trade or budget-conscious consumers, reality supersedes rhetoric. Words don’t pay the bills. As Trump’s presidency continues, it’s essential to scrutinize his actions behind the scenes rather than just his words.
Source: https://www.theguardian.com/us-news/2025/aug/05/donald-trump-tariffs