Another Win for Trump’s Trade and Tariff Agenda Despite Media Fearmongering [WATCH]

Following the release of June inflation data, CNBC editor Rick Santelli stated Tuesday that President Donald Trump’s tariff policies do not appear to be causing a spike in inflation, despite earlier warnings from several corporate media outlets.

The Consumer Price Index (CPI) rose by 2.7% year-over-year in June, according to data released by the Bureau of Labor Statistics.

The inflation rate came in roughly in line with economist expectations. When adjusted to exclude food and energy, the CPI increase was slightly lower than projected.

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Speaking on CNBC’s Squawk Box, Santelli said the inflation data should be viewed in context with broader trends and early-year policy impacts.

“Inflation is going to ebb and flow. If we want to really isolate it in terms of what this administration is doing or Liberation Day, I would benchmark it to the beginning of the year, January and February reads,” Santelli said.

“Being warmer gives you a lot of information that some of the policies have not been detrimental in boosting inflation. Now they’re up just a bit, but some of that could also be associated with better economic data. You know, the death of the labor market has been greatly exaggerated based on recent data and I think that all in all, the inflation numbers, they’re pretty respectable here,” he continued.

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President Trump reintroduced reciprocal tariffs during an April 2 event in the Rose Garden, calling them a necessary response to long-standing trade imbalances and excessive import duties imposed by foreign countries.

Trump then announced a 90-day pause in enforcement on April 9 via a post on Truth Social, citing ongoing negotiations.

A major trade agreement with China was finalized on June 26. Under the deal, a 55% tariff was imposed on Chinese goods entering the United States, while China agreed to reduce its tariffs on U.S. goods to 10%.

Leading up to the implementation of the tariffs, numerous media outlets had forecasted economic turmoil and surging prices.

On March 26, ABC News claimed the Trump tariffs “would ratchet up the global trade war.” The Guardian, in an April 22 report, asserted the policy “means rising prices” for American consumers.

NewsNation host Chris Cuomo, during a February segment, argued that using tariffs to stimulate the economy “never happens,” and said the Trump policy would only increase inflation.

CNBC also published a column in May predicting that the tariff actions would lead to significant price increases, despite favorable inflation numbers posted for April.

The June CPI figures and Santelli’s remarks mark a sharp contrast to those early projections.

According to the Bureau of Labor Statistics, the core inflation rate — excluding volatile categories like food and energy — remains within a range considered manageable by many economists.

The Trump administration has consistently defended the tariff strategy as a tool to level the playing field for American workers and manufacturers, while simultaneously working to secure more favorable trade terms with key foreign partners.

As of mid-July, economic indicators have shown stability in inflation rates and signs of continued resilience in the labor market, despite earlier media concerns tied to the tariff rollout.