Welcome to Trump’s America, The i Paper’s World Insight series presenting the sharpest, deepest thinking on an era-defining shift in history and politics, investigating how Donald Trump and his administration have changed the US and the world – and where we go from here.
Life in America has become frustratingly, dauntingly expensive. And voters are feeling the pinch.
Consumer prices are nearly 23 per cent higher than they were five years ago, according to the Bureau of Labor Statistics. The impact on consumer confidence is grim.
May’s Gallup economic confidence index found Americans at their most pessimistic since 2022 – 49 per cent of Americans said economic conditions were poor, with 34 per cent rating the economy as fair. Just 16 per cent of Americans rate current economic conditions as excellent or good. None of this bodes well for President Donald Trump and his Republican Party in November’s midterm elections.
A President elected to tackle inflation and high prices has only driven costs higher, with his tariffs on imported goods and an unpopular war with Iran which has closed the Strait of Hormuz sending oil prices and fertiliser costs soaring. But that’s only part of the problem.
