President Trump is speaking in Mount Pocono, Pa., in what is expected to be the first of a series of speeches that the White House hopes will address American concerns about affordability, a problem he dismissed a week ago as “the greatest con job” designed by Democrats.
The speech, at a casino was decorated with giant signs that read “Lower Prices, Bigger Paychecks,” came just a day after he announced $12 billion in bailout money for America’s farmers, who have been battered in large part by his trade policies.
Mr. Trump finds himself in an economic and political bind. His tariffs, the highest since 1930, continue to put upward pressure on prices, putting the Trump administration on the defensive over deep public concern about the cost of living. His approval ratings have been dragged down by economic worries, wiping away his strength on an issue that helped power his return to the White House.
China, the world’s second-largest economy and the United States’ main economic and technological competitor, released figures on Monday showing that it continues to run a record trade surplus with the rest of the world, even as its overall trade and surplus with the United States narrows. That suggests Beijing is quickly learning how to thrive even in a world in which the United States becomes a tougher place to do business.
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