Prices are remaining high
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To the editor:
Trump spent most of his election campaign saying his administration would tackle high prices. He vowed to bring them down on day one–say, January 21.
Exit polls on election day in key battleground states indicated that 32% of voters considered the economy to be the most important issue and among that group of voters 81% voted for Trump.
Reality check: Not happening certainly not on day one as we were promised. In-fact, US inflation has increased since Trump took office, and prices are unlikely to come down soon.
Experts predict that his stated economic strategy, including trade tariffs, major tax cuts [for the rich], and lower interest rates, will only add to inflation. Automobile prices will undoubtedly rise when the Trump 25% tariff on Mexico and Canada goes into effect April 2. So, if you want a new car, better buy it now, as experts predict that the tariff will add anywhere from $5,000 to $10,000 dollars to the price of a new vehicle.
The tariff will hit not only imported vehicles but key auto parts like engines and transmissions [without which cars don’t run very well]. This includes new cars, used cars, maintenance costs, even insurance premiums since accidents involving new parts are more costly.
Cars assembled in the U.S. are not safe from the tariff as they import parts from other countries–no vehicle is 100% American. Another item that will be impacted by the proposed tariffs is your grocery bill.
Many fresh fruits and vegetables are sourced from Mexico meaning food costs could rise. One key item on our grocery list that impacted voters’ decisions was the price of eggs. Not too surprising, egg prices in Iowa are lower than the nationwide average. Currently, at Hy Vee, That’s Smart! Large White Eggs are $5.99 a dozen, but at $6.00 a dozen it does impact your wallet.
At a Walmart in Santa Clara, California, expect to pay $9.20 a dozen for Eggland’s Best.
Insurance premiums–homeowners and auto will also go up along with the cost of healthcare. Promises made–promises broken.
Mary Kathryn Gepner
Benton