Trump Wins The First Round Against Inflation

Don't believe the hype when it comes to tariffs and inflation. Trump has been winning the battle against Bidenflation. Profit taking in the markets is only a result of uncertainty, not a bad economy.

Trump White House — Source: The Washington Post / Getty

So, all of a sudden, the media is concerned about inflation. Remember, under Biden it was “transitory”. Well, Trump is now the President, and the media is jumping up and down about the tariffs he’s proposing and how they will cause inflation. Even Tony Katz is no fan of tariffs because they are a tax. Heritage’s E.J. Antoni joined Tony to talk about the upcoming tariffs, and how they might affect the economy and market. He also talks about how the discussion of tariffs and inflation may be overblown, as Trump has already begun to bring Biden’s inflation down.

Tony Katz:

So, we have had serious days of down markets. Now, that doesn’t mean that everyone should begin to panic, but certainly we can argue that because it’s “our guy,” it’s not like we don’t get to not pay attention. If this had happened under Biden, it would be all the political right it’s talking about. And there would be reason to do it. But I’m telling you, I don’t have panic. What I have is a curiosity about what it is that I’m seeing. You guys know I’m not a tariff guy. The idea of reciprocal, I can understand. Blanket tariffs? I’m not down with. They do increase costs. And I will repeat this everywhere. But now we have the tariffs on cars not made in the United States. Now you have Trump trying to pressure Russia into other deals, like, for example, the deal with Ukraine by engaging more tariffs on oil and gas that they sell to others. It all has an effect here, and certainly, it’s had an effect on the markets. E.J. Antoni joins me right now. … He is a public finance economist over at the Heritage Foundation, heritage.org. And one of his latest pieces, “Trump wins the first round against inflation.” I would argue that that’s an accurate assessment, you being the expert, me being the radio host. But talk to me, let’s start there about what you mean regarding a win.

Just one month on the job, President Donald Trump has already overseen a dramatic improvement in the economy, with the monthly inflation rate being cut in half. @RealEJAntoni https://t.co/GmKIeXREsD
— Heritage Foundation (@Heritage) March 23, 2025

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E.J. Antoni:

Well, Tony, thanks for having me. Essentially what we’re seeing is the Trump administration slammed the brakes on this runaway freight train that has been Biden-nomics that is taking us down the wrong track, if you will, of, of inflation. And it’s already starting to bear fruit, whether you’re talking about gas coming down a little bit, eggs coming down a bit. Actually, eggs are coming down a lot.

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