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 âreciprocal tariffsâ to match the charges that exporting countries impose on American products, potentially escalating a trade war. During an appearance on âSpecial Report with Bret Baier,â Hume shared his perspective on the matter and suggested that the rising prices as a result of the tariffs should not alarm the public.
âAnything that has a cost to manufacturers and other producers causes them to raise prices to cover that. So thatâs something thatâs got to concern the administration. I donât think, however, Bret, that this current number on inflation, it is concerning perhaps to the administration, but it shouldnât be alarming,â Hume told Baier.
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Hume said that if inflation remains unchecked as the midterm elections approach then it could evolve into a significant political issue.
âI donât 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 weâre 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,â Hume said.
Hume said similar circumstances adversely impacted former President Joe Biden.
âItâs a political problem that basically slew the previous presidentâs political standing. So itâs something to keep an eye on,â 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 Media Credit:Â Screenshot/Fox News)
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