Trump Touts Lower Energy Prices, Strike Against ISIS In Nigeria
President Donald Trump said Friday that U.S. airstrikes carried out the previous day against ISIS camps in Nigeria were a “Christmas present” to the terror group. Trump also highlighted his economic policies, saying declining gasoline prices amount to a tax cut for American consumers.
“They really got hit hard yesterday,” Trump said on 77 ABC Radio. “They got a bad Christmas gift.”
The president spoke after the U.S. launched strikes in retaliation for ISIS allegedly killing Christians in Nigeria. He suggested that the attack saved “tens, hundreds of thousands” of Christian lives.
Trump also claimed that U.S. strikes against allegedly narco-terrorist boats in the Caribbean and eastern Pacific have led to a 97.2% reduction in drug trafficking. He also stated that the current low gasoline prices are similar to a significant tax cut, and said that gasoline prices in a growing number of states is now below $2 a gallon.
Regarding the U.S. military’s pursuit of oil tankers in the area and whether this strategy aimed to pressure Venezuelan President Nicolás Maduro to resign—thus allowing the U.S. to gain access to more Venezuelan oil—Trump indicated that the situation was complicated and had multiple dimensions.
“It’s about a lot of things,” he told host John Catsimatidis. “It’s about that. … They took our oil. They took it, and they also sent millions of people in here from jails, into our country … some of the worst people on Earth.
“They empty their jails into the United States. As you know, they sell, they send drugs in. And I don’t know if you know John, but drug traffic is down now by 97.2 percent.”
Meanwhile, the Trump administration’s recent trade deals with several countries are helping boost public confidence in the economy’s outlook,
Consumer confidence rose by two points in July to a reading of 97.2, according to the Conference Board on Tuesday, indicating that Americans’ views on the economy have stabilized after a sharp decline in the spring. That drop followed the announcement of sweeping tariffs by Trump, which had raised concerns about rising prices and potential strain on the labor market after being panned by most of the media and so-called experts who were wrong about the tariffs’ effects on the economy.
Since then, confidence has rebounded somewhat. The administration has repeatedly delayed the implementation of those tariffs and announced trade agreements with seven countries, including China, the United Kingdom, and Japan, said the report.
Earlier, the Trump administration announced it had reached the framework of a trade agreement with the European Union, one of the United States’ largest trading partners, calling it the “biggest deal ever made.” However, the survey was conducted in the weeks leading up to July 20 and does not reflect public reaction to the EU trade deal, CNN noted.
“Consumer confidence has stabilized since May, rebounding from April’s plunge, but remains below last year’s heady levels,” said Stephanie Guichard, senior economist of global indicators, at The Conference Board.
“Tariffs remained top of mind and were mostly associated with concerns that they would lead to higher prices,” she added.
But that hasn’t happened. In fact, prices for many key commodities, including food and gasoline, have either fallen or stabilized over the past couple of months.
“Inflation has come into better balance this year — but signs of renewed price pressure are starting to emerge,” Lauren Goodwin, economist and chief market strategist at New York Life Investments, said in a note to clients, per CNN.
“Goods prices in categories sensitive to trade policy — such as consumer electronics, apparel, and auto parts — have started to edge higher,” she added. “Steep tariffs often create visible economic pain – disrupting supply chains and suppressing demand.”
