'Costs Are Substantially Down': Trump Blasts 'Fake News' Over Tariff-Caused Inflation Reports

Forbes Breaking News

During a press conference on Wednesday, President Donald Trump spoke about tariffs.

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00:00that we've never had in this country before.

00:02And secondly, a study from the Council of Economic Advisers.

00:05You put it on Truth Social yesterday.

00:07It showed that your assessment that tariffs with slow inflation was accurate

00:11and that the prices of imported goods since February has fallen,

00:14that your assessment was right, that critics were wrong.

00:17Why do so-called experts continually misread your economic policies, sir?

00:21Well, it's not the experts.

00:23It's the fake news and a combination of that and the Democrats.

00:27I saw an ad on television today on Fox,

00:31and it was some ad about, oh, Trump has raised costs.

00:35It's the opposite.

00:36I actually put out a statement.

00:38I brought down costs.

00:39I brought down the cost of groceries.

00:41I brought down the cost of energy, tremendously energy, tremendously groceries.

00:47If you remember my first week in office,

00:49the press was screaming at me about the cost of eggs.

00:53They were four times higher than they were just a short time ago.

00:56That was caused by Biden and stupid policies, and we got that down.

01:00And by Easter, it was normalized, and now it's actually even at a lower price.

01:05So when I see an ad like that, it's always good to respond.

01:08I feel you have to respond.

01:10It was an ad that things are more costly.

01:12No, they're much less costly.

01:14Yesterday, $1.99 a gallon is two states, three states were selling gasoline.

01:21At $1.99, you haven't seen that for a long time.

01:24And I brought costs way down, just about every cost.

01:28I can't think of a cost that went up, but just about every cost.

01:31So what they do is they lie.

01:32I mean, they take ads.

01:33They'd almost think that the advertising station would stop it because they know it's wrong.

01:44It's such a lie.

01:45All you can do is say it's a lie and explain it.

01:48I guess I have the ability to explain it at conferences like this,

01:51so I like to take advantage of it and do it.

01:54But costs are substantially down under the Trump administration.

01:58And as you know, Biden had the highest inflation, I believe, in the history of our country.

02:03They say 48 years, but regardless, I think it was really the highest in the history of our country.

02:09And they were up to numbers that nobody ever saw before.

02:14And we have inflation now totally under control.

02:17We have a Fed chairman that if he was doing his job properly, we'd lower interest rates.

02:22But we're bullying through even that.

02:24We're doing so well, it's not having that kind of an impact on us.

02:27But you want to see a rocket ship?

02:29We should have the lowest interest rates because without us, there's nothing.

02:36And we have a strong country now, and we're taking in a lot of money.

02:40And other countries aren't even complaining.

02:42They got away with murder.

02:44They took advantage of a lot of very stupid people that sat in the seat, very stupid people,

02:49or people that didn't understand business or something or something was going on.

02:54But hard to believe that they got away with it for so many years.

02:57But now, and I'm treating them very fairly.

03:01Again, we have countries with tremendous deficits with us where we have, you know,

03:07where we essentially lose a lot of money.

03:10And we are changing that around very rapidly.

03:14And I think it's about time somebody did it.

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