Veteran political analyst Brit Hume explained Wednesday on Fox News why he believes current rising prices should not be a major concern at this point.
President Donald Trump announced plans to implement “reciprocal tariffs” to match the charges that exporting countries impose on American products, potentially escalating a trade war. During an appearance on “Special Report with Bret Baier,” Hume shared his perspective on the matter and suggested that the rising prices as a result of the tariffs should not alarm the public.
“Anything that has a cost to manufacturers and other producers causes them to raise prices to cover that. So that’s something that’s got to concern the administration. I don’t think, however, Bret, that this current number on inflation, it is concerning perhaps to the administration, but it shouldn’t be alarming,” Hume told Baier.
Hume said that if inflation remains unchecked as the midterm elections approach then it could evolve into a significant political issue.
“I don’t think the voting public expected the administration to solve this problem in the first weeks or even months of this administration. If, however, we get down to where we’re getting toward the midterm elections, and people are still finding prices going up, up, and up, or staying up in all categories, that would be a political problem,” Hume said.
Hume said similar circumstances adversely impacted former President Joe Biden.
“It’s a political problem that basically slew the previous president’s political standing. So it’s something to keep an eye on,” Hume said.
Trump used tariffs to pressure Canada and Mexico into making concessions to address the crisis at the southern border. Trump plans to apply a 25% tariff on goods imported from Mexico and Canada, with a further 10% tariff on Canadian oil, natural gas, and electricity. Despite these substantial rates, Trump has only implemented a 10% tariff on the least expensive U.S. imports, which is oil.
Featured Image Credit: Gage Skidmore from Peoria, AZ, United States of America
