President Trump insists that his tariffs are working, but the data suggests otherwise. With a $12 billion bailout for farmers, he is trying to contain the economic damage caused by his trade policies. However, many experts say that the tariffs have introduced unnecessary complexity and depressed prices, causing widespread concern about the cost of living.
The president’s assertion that his tariffs are paying off comes as China continues to run a record trade surplus with the rest of the world. The US has collected only $250 billion in tariff revenue this year, far short of Mr. Trump’s promise that it would pay down the national debt. Economists also note that manufacturing jobs have continued to decline gradually, with losses of roughly 50,000 since January.
Mr. Trump is facing growing criticism for his handling of the economy and trade policies. His promise to cut a government check of $2,000 for every taxpayer has been met with skepticism, as the revenue from tariffs is not enough to cover this pledge. The president’s repeated use of the word “bridge” to describe the tariff payments to farmers has also been seen as a way to signal that Americans just need to hold on until the promised benefits pay off.
Experts say that the problems caused by the tariffs are symptomatic of a broader issue, and that the US is facing an unprecedented level of complexity in its trade policies. With the introduction of new tariffs and exemptions, it has become increasingly difficult for businesses to navigate the changing landscape.
Source: https://www.nytimes.com/2025/12/08/us/politics/trump-trade-affordability.html