President Donald Trump marked the 100-day milestone of his second term by addressing his Cabinet, where he acknowledged that his tariff policies could potentially lead to higher prices for American consumers. However, he seemed to downplay the significance of these price increases, particularly regarding children's toys. "You know, somebody said, 'Oh, the shelves are going to be open.' Well, maybe the children will have two dolls instead of 30 dolls," Trump remarked on Wednesday, suggesting that the impact on families might not be as severe as reported.
During his remarks, Trump continued, "And maybe the two dolls will cost a couple of bucks more than they would normally. But, we're not talking about something that we have to go out of our way." He expressed the belief that many products imported from China, the world's second largest economy and a significant trading partner of the United States, are not genuinely necessary for American households.
White House deputy chief of staff Stephen Miller, who was present at a special briefing alongside press secretary Karoline Leavitt, supported Trump's stance by arguing that American consumers would be willing to pay more for domestically produced dolls. "If they had a choice between a doll from China that might have, say, lead paint in it, and a doll made in America that meets higher environmental and regulatory standards, I think they would prefer the American product," he claimed.
Trump's comments about the toy market came on the heels of an exclusive interview with ABC News, where he pushed back against economic anxieties. When asked by anchor Terry Moran if hard times were ahead, Trump confidently replied, "I don't think so. I think great times are ahead." He defended his tariff plan, which includes specific levies on steel, aluminum, and automobiles, as essential for addressing unfair trade deficits with other countries.
Despite Trump's assertions, the administration's tariff rollout has resulted in significant market fluctuations, wiping away trillions in wealth. Businesses have raised alarms about possible price hikes and product shortages stemming from these tariffs. During a town hall meeting with NewsNation, Trump stated he was not in a rush to negotiate new trade deals.
Trump's response to Americans worried about rising prices was that they "voted for it." He remarked, "With the economy being the number one issue for so many people, it's one of the main reasons that you're back in this office." However, analysts from Moody's and other organizations have warned that the ongoing trade war with China could cost American families thousands of dollars each year, raising concerns even among some of Trump's supporters.
In response to Moran's inquiries regarding these economic concerns, Trump reiterated, "Well, they did sign up for it, actually. And this is what I campaigned on." He stressed that the U.S. had been "abused by other countries at levels that nobody's ever seen before" and that it was crucial to rectify these trade imbalances.
As the Commerce Department reported a 0.3% contraction in the U.S. economy during the first quarter of 2025, Trump attempted to shift blame to his predecessor, former President Joe Biden. He took to his conservative social media platform, asserting, "This is Biden's Stock Market, not Trump's." Notably, Trump had previously taken credit for positive stock market performance during Biden's presidency.
Furthermore, Trump preemptively attributed any negative economic data for the second quarter to Biden, stating, "This is Biden," and explaining that economic changes do not occur instantaneously.
