Despite Trump’s lies about the strength and direction of the economy, new data released today shows U.S. inflation rose to 2.4% in May, and core prices rose 2.8% for the third straight month
Rising inflation is the latest indicator for American families and businesses on Main Street that the future of the economy is bleak. Hiring slowed in May, and factories cut 8,000 manufacturing jobs. Unemployment claims have risen to their highest level in eight months.
Trump isn’t backing down from his failed trade war. This morning, Trump announced higher tariffs on a major trading partner, sending a signal to small businesses that have struggled with the cost of imports since May that no end is in sight to Trump’s trade war.
Walmart, the largest retailer in the country, called Trump’s tariffs “too high” and announced “higher tariffs will result in higher prices” at their stores. Walmart workers have shared photos of price hikes on everyday goods of 38% or more.
“Trump broke the economy for working families and called it strength. Now he’s doubling down on policies that raise prices, kill jobs, and make life harder for the very people he promised to fight for,” said American Bridge 21st Century spokesperson Brandon Weathersby. “No amount of spin can cover up the failures of the Trump economy. This is what failure looks like, and Americans are paying for it every day.”
Americans are hurting thanks to Trump’s chaotic economic policies, and while the administration works to hide the pain from reaching the headlines, tariffs have already made mattresses, toys, strollers, and big-ticket purchases that many families need more expensive.
Recent data from the New York Federal Reserve showed that in May, about 77% of service firms that saw increased costs due to higher U.S. tariffs raised their prices and passed the cost of the tariffs to clients. Around 75% of manufacturers reported raising prices as well.
An analysis from the Yale Budget Lab shows chaotic policies will cost nearly 400,000 American jobs and raise the cost of living for households by an average of $2,500, with the poorest Americans paying a disproportionate share of the costs.
Published: Jun 11, 2025