Remember when the media sowed terror over Trump's tarriffs?

So where were the high prices caused by these supposedly harmful tariffs?

You would think that if Trump's tariffs were so harmful, the media and others attacking them could point to high inflation, but it didn't occur. 

Here are the facts that the media don't show when attacking Trump's America First policies. 

Inflation

2018: 2.44%

2019: 1.81%

2020: 1.23%

And then Biden took over, and inflation skyrocketed because of his energy policies and massive regulations. 

The rate was below 2% when Biden took over and was up to 4.7% for 2021 for the year.  It rose to 8% for 2022.

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

  • U.S. inflation rate for 2022 was 8.00%, a 3.3% increase from 2021.
  • U.S. inflation rate for 2021 was 4.70%, a 3.46% increase from 2020.
  • U.S. inflation rate for 2020 was 1.23%, a 0.58% decline from 2019.
  • U.S. inflation rate for 2019 was 1.81%, a 0.63% decline from 2018.

Trump's policies took poverty to an all-time low before COVID hit.  Real income was rising rapidly, especially for those at the bottom.  Income inequality was reduced.  These are supposed goals for Democrats, yet they sought to destroy Trump and his policies throughout his term.

Real median household income increased by $4,400 in 2019, reaching an all-time record high of $68,700. This represents a 6.8 percent one-year increase, which is the largest one-year increase in median income on record. Since 2016, real median household income has increased by 9.7 percent (after adjusting for a Census survey redesign in 2017).

Income gains in 2019 were largest for minority groups. Real median income grew by 7.9 percent for black Americans, 7.1 percent for Hispanic Americans, and 10.6 percent for Asian Americans (see Figure 1). These one-year increases were all record highs, and the new income levels reached in 2019 were all record highs, as well.

Incomes grew across the distribution, and poverty plummeted as a result. The official poverty rate fell to an all-time record low of 10.5 percent in 2019. Over 4 million people were lifted out of poverty between 2018 and 2019 for a 1.3 percentage point decrease. This was the largest reduction in poverty in over 50 years.

Minority groups led the way in poverty alleviation. Compared to the overall poverty rate reduction of 1.3 percentage points, black poverty fell by 2.0 percentage points, Hispanic poverty fell by 1.8 percentage points, and Asian poverty fell by 2.8 percentage points (see Figure 2). The poverty rate fell to an all-time record low for every race and ethnic group in 2019. Notably, the black poverty rate fell below 20 percent for the first time in history.

Trump's pro-growth policies took minority poverty levels to record lows, not the big government policies of Democrats that lead to the breakup of the family, dependence on the government, and generational poverty.

I would think that if the WSJ and other media outlets are attacking Trump's trade policies, they would have facts to support the attacks. 

I would also think that COVID supply problems would show how important it is for the U.S. to produce its own products, including energy.  Sadly, it appears that most journalists learn so little from results and history that they just attack Trump and other Republicans. 

It is a shame that facts seem so irrelevant, whether the subject is the climate or trade.

Image via Raw Pixel.

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