Donald Trump claims there is 'virtually no inflation'

In a post on Truth Social, Trump wrote, "Great Financial Numbers were released today -- Our Country has never done better! So many people ask me the reason for this, and I tell them, in just one word -- TARIFFS! We've taken in Hundreds of Billions of Dollars, with virtually No Inflation, and our National Security has never been as strong as it is today."

https://x.com/TrumpDailyPosts/status/2011931639971266926

The remarks come amid ongoing debates within the United States over trade policy, inflation trends and the broader impact of tariffs on consumers and global markets.

Earlier on Tuesday, Trump said his administration's tariff policy is the cornerstone of the "strongest and fastest economic turnaround" in the country's history, asserting that it has brought hundreds of billions of dollars into the United States Treasury and "helped curb inflation".

Speaking at the Detroit Economic Club after touring Ford Motor Company's historic River Rouge Complex, Trump said, "I am back in Michigan to report to you on the strongest and fastest economic turnaround in our country's history. Under our administration, growth is exploding, productivity is soaring, investment is booming, incomes are rising, inflation is defeated, and America is respected again. Just as I promised you, I've imposed a 25 per cent tariff on all foreign automobiles," adding that the move had transformed the domestic auto sector.

"U.S. auto factories are now seeing more than $70 billion of new investment, and much of that money is coming right here to the car-making capital of the world, Detroit," he said.

Defending his broader tariff strategy, Trump claimed it had delivered substantial fiscal gains. "They brought hundreds of billions of dollars pouring into the United States Treasury, helped curb inflation, and helped cut the federal budget deficit by a staggering 27 per cent and that's only for a short period of time," he said.

Rejecting criticism that tariffs raise prices for consumers, Trump added, "Every prediction the critics made about our tariff policy has failed to materialise. The evidence shows overwhelmingly that the tariffs are not paid by American consumers. They're paid by foreign nations and middlemen. Once again, the so-called 'experts' were 100 per cent wrong and Trump was right." (ANI)