Trump admits he cannot guarantee that tariffs won’t increase U.S. prices and suggests he may not rule out retaliatory prosecutions
Donald Trump stated that he cannot guarantee his promised tariffs on major U.S. trade partners will not lead to higher prices for American consumers, while reiterating that some political rivals and federal officials involved in legal actions against him should be imprisoned.
In a broad interview with NBC’s Meet the Press aired Sunday, the president-elect discussed various issues, including monetary policy, immigration, abortion, healthcare, and U.S. involvement in Ukraine and Israel. Trump frequently balanced definitive statements with caveats, noting that “things do change.”
Key points from the interview include:
Trump on Potential Price Increases from Trade Tariffs:
Trump, who has threatened to impose wide-reaching trade penalties, downplayed economists’ warnings that such tariffs on imported goods would increase costs for U.S. consumers. He did not rule out the possibility of price hikes, stating, “I can’t guarantee anything. I can’t guarantee tomorrow,” suggesting an acceptance of the typical impact tariffs have on retail prices. This was a shift from his usual campaign rhetoric, which emphasized his ability to reduce inflation. Trump defended tariffs, claiming they would “make us rich,” and pledged to impose a 25% tariff on imports from Mexico and Canada unless those countries curb illegal immigration and drug flows. He also threatened additional tariffs on China to address fentanyl production.
Trump’s Remarks on Justice and Retribution:
Trump made conflicting statements about how he would handle the justice system after his election, despite facing multiple legal challenges. He declared that certain individuals who investigated the Capitol riot should be jailed, including members of Congress involved in the probe. He also suggested he could use the justice system to target others, such as special prosecutor Jack Smith. Trump confirmed his plan to pardon supporters convicted of participating in the January 6th riot. However, he downplayed motivations of revenge, stating, “I’m not interested in that.” Trump indicated he would leave decisions about pursuing investigations against his opponents up to his attorney general pick, Pam Bondi. Despite these threats, there are reports suggesting President Biden is considering preemptive pardons for key members of his administration to avoid future legal retaliation.
Immigration Policy and Border Security:
Trump reiterated his plan to secure the U.S.-Mexico border and deport millions of undocumented individuals through a mass deportation program. He hinted that he might use executive action to end birthright citizenship, despite constitutional protections. Regarding young immigrants shielded from deportation, he said, “I want to work something out,” potentially indicating a compromise with Congress, though he also emphasized his goal of keeping families together through deportations.
Trump on NATO and Russia:
Trump affirmed his commitment to NATO, contingent on allies paying their fair share for defense, but suggested Ukraine should brace for reduced U.S. aid in its fight against Russia. He also called for an immediate ceasefire in the conflict. Although he initially claimed not to have spoken to Russian President Vladimir Putin recently, Trump later suggested that he did not want to “impede the negotiation” with Russia over Ukraine.
Federal Reserve and FBI Leadership:
Trump stated that he had no plans to ask Federal Reserve Chairman Jerome Powell to step down before his term ends in 2028. However, he did not commit to keeping FBI Director Christopher Wray, noting that Wray’s position would likely be replaced by Kash Patel if confirmed by the Senate.
Social Security, Abortion, and Healthcare:
Trump assured that efforts to streamline government efficiency under leaders like Elon Musk and Vivek Ramaswamy would not threaten Social Security, stressing that it would remain untouched except for efficiency improvements. He did not provide specifics on his stance regarding abortion or health insurance reform. On abortion, Trump hinted that he likely would not restrict access to abortion pills but noted that positions could change. On healthcare, he reiterated his intention to replace the Affordable Care Act with a more efficient system while maintaining protections for those with preexisting conditions, although he did not clarify how his plan would differ from the existing system or how it would provide “better healthcare for less money.”