"Trump Tariffs Were Indeed Raising Prices" — The Outcome of the Inflation Election Starting with a "Concession Speech"

"Tariffs Were Supposed to Be Paid by Other Countries"

"Tariffs Are Paid by Other Countries, Not Americans."
This claim, repeated for years by President Donald Trump, has finally been shaken by his own words.

On November 14, the Trump administration announced the removal of tariffs on over 200 agricultural products, focusing on supermarket staples like beef, coffee, and bananas. This is a partial rollback of the so-called "Liberation Day tariffs."AP News

Surrounded by reporters aboard Air Force One, the President was asked about the impact of tariffs on prices. He reportedly said, "In some cases, it might be pushing prices up."AP News

The tariffs, which he had insisted were paid by other countries, were finally acknowledged to have been directly affecting American households.

What Were the Liberation Day Tariffs?

What exactly were the "Liberation Day" tariffs?
In April 2025, Trump declared in the White House Rose Garden, "This is America's Declaration of Economic Independence," signing a policy imposing a flat 10% tariff on nearly all imports. It was an aggressive move, adding higher "retaliatory tariffs" for countries with large trade deficits, such as Japan and China.Wikipedia

The administration argued that tariff revenue could protect domestic industries and fund tax cuts and infrastructure investments. However, in reality, prices for imported coffee, beef, and fruits skyrocketed, directly impacting American dining tables. Coffee, in particular, saw price hikes due to high tariffs on major producers like Brazil and Vietnam, making even a "morning cup" more expensive.Politico

Meanwhile, the "national emergency" declaration that legally justified the tariffs faced legal challenges and criticism from international economic law and constitutional experts.Wikipedia

The Turning Point of High Prices and Looming Elections

The backdrop to this tariff rollback includes political realities beyond mere economic rationale.

First, prices. According to U.S. government statistics, food prices have remained high over the past three years, with notable increases in beef and coffee.Reuters
The burden of gasoline, rent, and utilities is also heavy, with over 60% of voters in polls expressing dissatisfaction with the Trump administration's economic management.The Daily Beast

Adding to the pressure was the Republican defeat in local elections in Virginia and New Jersey. In both cases, "rising living costs" were key issues, with the opposition Democrats intensifying their attack, calling the Trump tariffs a "hidden tax increase" on the public.AP News

Democratic Congressman Don Beyer sarcastically commented, "Trump finally had to admit that tariffs are hurting Americans' wallets."AP News

The administration is also not hiding its sense of urgency. Treasury Secretary Scott Bessent repeatedly emphasized the need to "quickly lower the prices of coffee and bananas" alongside the tariff rollback, even proposing a plan to return $2,000 per person as a "tariff dividend" by 2026.Politico

However, there's growing cynicism about "raising prices with tariffs and then trying to gain popularity with dividends."

Three Narratives Painted by Social Media

How did social media react to this tariff rollback and "de facto declaration of defeat"? Browsing through posts on X (formerly Twitter), Threads, and TikTok reveals three main narratives.

1. Relief and Irony from Consumers

The most common reactions come from the perspective of household defense.

One user posted a photo of a supermarket meat section filled with price tags, commenting, "Finally free from 'Trump tax' steaks?" Another user marked a coffee receipt with a big red "×," expressing anger, "I want all these extra charges back."

Hashtags like
#GroceryGate
#TariffFail
are trending, spreading memes that mock the "Liberation Day" as a day that "tied up household budgets."Business Insider

Many posts express a mixed tone of expectation and skepticism about whether prices will actually drop and to what extent and when this will be reflected.

2. A Political Defeat as a "White Flag"

Among progressive accounts and economists, the prevailing view is that this rollback is a "declaration of defeat for Trump economics."

Policy critique influencers are posting images comparing graphs of food prices with Trump's past statements, contrasting "when he insisted 'tariffs are paid by other countries'" with "now admitting 'in some cases, we might be paying too.'" These posts are garnering a lot of likes and reposts.

There's also a noticeable trend of posts quoting the nickname "TACO (Trump Always Chickens Out)" coined on Wall Street—referring to his pattern of imposing tough tariffs only to retract them after market reactions—and jokingly declaring "TACO activated again."Wikipedia

These posts are shared not only among liberals but also within some parts of the business community and conservatives, visualizing the dissatisfaction with "unpredictable tariffs as a business risk."

3. Supporters' "4D Chess" Interpretation

Meanwhile, a completely different narrative is being told on the timelines of ardent Trump supporters.

One account posted, "Tariffs are a negotiation card. It's natural to lower them once the goal is achieved. This is Trump's 4D chess." Another user defended, "Because Democrats and fake news are making noise about 'high prices,' he just temporarily sheathed the sword."

For them, this rollback is not a "defeat" but a "flexible tactical change," and rather a testament to a "strong leader who listens to the people's voice." If the $2,000 "tariff dividend" is indeed distributed in the future, they are ready to boast, "See, I told you so."

Fox News' Discomfort and the Role of Media

Interestingly, even conservative media, often seen as close to Trump, have recently begun questioning the issue of high prices. For instance, a Fox News interview where the host pressed Trump about "coffee prices also rising significantly" and challenged the administration's optimistic view on prices became a topic of discussion.The Daily Beast

The fact that some right-wing media are beginning to address the high cost of living head-on is a symbolic signal for the administration. On social media, there's a mix of surprise with "Even Fox now..." and frustration with "They should have said it sooner."

Global Supply Chains and Ripples in Japan

This tariff rollback is not just a domestic issue for the United States.

For beef, coffee, and tropical fruit exporting countries like Brazil and Latin American nations, the reduction of tariffs for the U.S. market is a tailwind. In fact, the Trump administration simultaneously announced new trade frameworks with countries like Ecuador, Guatemala, and Argentina.AP News

Japanese exports are not included in this round, but the uncertainty of "not knowing when tariffs might be imposed" remains. After the second Trump administration began, the U.S. government mentioned the possibility of imposing a 24% "reciprocal tariff" on Japanese products, constantly forcing Japanese companies to manage risks.Wikipedia

The global supply chain has been repeatedly swayed by the "whims" of Trump's tariff policies. Although this rollback provides some relief, the anxiety of "when will the policy flip again" has not disappeared.

The Symbolism of a "Small Word"

Ultimately, President Trump's admission that "Americans might be paying something" is merely an obvious recognition in the world of economics. Tariffs are passed on to consumer prices through importing companies and retailers—a textbook-level fact.Reuters

Still, the reason this "small word" garnered so much attention is likely because it symbolizes a significant retreat from Trump-style populism.
The simple and straightforward narrative of "passing the buck to other countries to protect our citizens" collapsed in the face of the complex reality of price mechanisms.

Of course, just because some tariffs have been rolled back doesn't mean prices will immediately return to normal. Factors affecting prices are diverse, including logistics costs, climate change, and currency fluctuations. However, at the very least, the fact that "tariffs are not a magical tool for free-riding" being spoken by the president himself is significant.

A Question for Japanese Readers

In Japan, too, the relationship between "prices" and "politics" is receiving unprecedented attention amid yen depreciation and rising energy costs. What is happening in America is not just a distant fire.

- Will simple slogans for popularity eventually rebound as long-term costs to the public?
- When prices remain high, to what extent will politicians acknowledge the impact of their policies, rather than just emphasizing "external factors"?
- Will anger and irony on social media merely serve as a release valve, or can they become pressure for policy change?

The "declaration of defeat" of Trump tariffs poses these questions to us as well.
The sight of American shoppers looking up at beef and coffee price tags might closely resemble today's supermarket scenes in Japan.