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President Trump said in an interview on Sunday that the price increase in certain items in his trade war was “peanuts” compared to cheaper gas.
“Some prices are raising, tires, strollers and some clothing are behind your tariffs,” NBC News’ Kristen Welker noted in an interview with Meet the Media.
“Sorry, that’s peanuts compared to energy,” Trump interrupted. “Energy is 60% of the cost. Energy is very large-“
Welker stepped in and noted that Trump “runs to the promise to drop prices on the first day.”
“Well, when you say, ‘The stroller is going to rise, I don’t know what kind of thing – I say gasoline is going to go down. Gasoline is thousands of times more important than strollers.”
By the 100th day of Trump’s tenure last week, the average price of natural gas fell about 50 cents from a year ago, according to AAA data.
Meanwhile, Trump’s recent tariffs have shocked global markets, tense relations with long-time allies such as Canada and the EU, and increased anxiety in the U.S. and abroad.
His large tariffs (up to 145%) in particular have raised concerns about empty shelves and high prices.
In an interview with Welker, the president claimed to appreciate the positive aspects of the economy and followed former President Biden in a difficult situation.
“I think the good part is Trump’s economy, the bad part is the car investment economy, because he’s doing a bad job,” Trump said. “He’s doing a bad job in everything.”
Treasury Secretary Scott Bessent defended what he called Trump’s “economic rebalancing” in an article in the Wall Street Journal on Sunday, as he grew concern over his handling of the economy.
Bessent said in a journal article that the president “want to make sure he doesn’t fall behind in the next era of economic growth, like many people.”
“In the first 100 days of our presidency, we have built an economy that enables Wall Street and Main Street to rise together to rebalance global trade and restore the industrial base of the United States. To understand the urgency of this economic rebalancing, it is necessary to understand this first,” he said.