Is Trump really going to push the “more inflation” button?

Is Trump really going to push the “more inflation” button?

Shipping containers are stacked high at the Port of Long Beach as President Donald Trump's tariffs on Canada and Mexico take effect. | Tom Williams/CQ-Roll Call, Inc via Getty Images

This story appeared in the Logoff, a daily newsletter that helps you stay informed about the Trump administration without letting political news take over your life. Subscribe here.

Welcome to The Logoff. Today I’m focusing on a line in Donald Trump’s speech last night that I found surprisingly honest: “There will be a little disturbance, but we are okay with that.” It was an acknowledgment that Trump’s plan to reorder the US economy with tariffs is not without pain. As we get clarity on just how steep the tariffs will be, we’ll find out just how much pain Trump is talking about.

What’s the big question? Since Trump slapped massive tariffs on goods from China, Mexico, and Canada on Tuesday, we’ve all been wondering whether the tariffs are a temporary measure meant to coerce trading partners into compliance, or whether they, and the accompanying price hikes, are here to stay.

So, which is it? The past two days have been a litany of mixed signals. There are signs the tariffs are temporary, or at least going to be decreased:

• The administration granted some automakers a one-month reprieve on the tariffs after the industry begged the White House for relief and warned that the taxes could increase the cost of a vehicle by up to $10,000.
• Trump’s commerce secretary suggested that Trump is ready to deal with Canada and Mexico to lessen the impact of tariffs, though he made clear that they weren’t going away.

But there’s also the possibility we’re just getting started:

• Trump last night said he’d launch a new round of tariffs on any country that taxes US goods on April 2nd.
• He also posted about a call with Canadian Prime Minister Justin Trudeau, saying the two leaders had spoken about the tariffs without coming to any clear resolution.
• China and Canada have already retaliated, and Mexico is preparing its response.

What’s the big picture? Before the election and even after, many asserted that Trump’s tariffs were a bluff — more aimed at winning concessions than reorienting the economy away from trade. We still don’t know for sure — and last night’s speech might have been more bluffing — but it’s looking less likely. The president says he’s fine with a little “disturbance,” and he’s betting you’ll be fine with it, too.

And with that, it’s time to log off…

Before we go, let me direct your attention toward a different — and far more pleasant — frenetic creature. High Country News has this very cool three-minute listen on hummingbirds. Specifically, how hummingbirds are adapting to climate change, and the beautiful sounds they’re making while doing so. I cannot tell you how much more relaxed I was after listening than I was before. I hope you enjoy it. Have a great night, and I’ll see you back here tomorrow.