The Trump White House confirmed on Tuesday that it would continue its tariff policy despite Republicans’ defeat in the November 3 midterm elections, which was driven by rising living costs. Nearly two-thirds of voters said Trump’s policies contributed to inflation, while 62% of Americans supported repealing his tariffs in a Reuters/Ipsos poll. Consumer prices rose 0.4% in October, and annual inflation reached 3.7% in September, well above the Federal Reserve’s 2% target. A Federal Reserve Bank of New York study estimated that 26% of tariff increases were passed through to consumer prices, although other factors, including the war with Iran and housing costs, are also contributing to inflation. Companies are restructuring their supply chains to bring production closer to their markets, while Democrats plan to challenge the measures in January despite the president’s veto power and broad trade authority.
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