Trump’s Economy Is Hurting Americans — and Setting Us up for Long-Term Collapse

In an interview with C.J. Polychroniou, PERI’s Gerald Epstein Epstein explains how Trump’s policies have created an affordability crisis, and the growing deficit and humongous public debt are now bringing the country close to a tipping point.

“Trump’s tariffs have raised the cost of many U.S. goods, as well as the cost of food, and lowered the profits of medium-sized and small businesses, which, unlike big firms, have much less flexibility and fewer resources to adjust. Trump’s immigration dragnet has harmed economic activity in key sectors such as housing construction and services. Tax changes have greatly increased health care costs and pharmaceutical companies have raised prices on hundreds of medicines, all of which affect millions of people as these increased costs reduce their standards of living. And the trade deficit in goods has reached a new height.”