President Donald Trump has embarked on an economic tour titled "Lower Prices, Bigger Paychecks," beginning in Mount Pocono, Pennsylvania, to address concerns about affordability as the nation approaches the midterm elections. During a 90-minute speech, Trump defended his tariff policies, which have faced criticism for contributing to rising consumer prices. He attributed affordability issues to the policies of Democrats, while acknowledging that prices had risen but suggesting they are now decreasing.

The Trump administration's economic challenges are underscored by tariffs that are the highest since 1930, which have led to increased costs for consumers. A report from the Federal Reserve of St. Louis indicates that these tariff measures have exerted upward pressure on prices, with significant increases noted since early 2025. Despite claims of improving economic conditions, consumer sentiment remains low, with the University of Michigan's survey showing a drop to 51 points in November, one of the lowest levels recorded since 1952.

Trump's assertions that tariffs have generated substantial government revenue are complicated by the rollback of many tariffs, particularly those affecting food products, in response to inflation concerns. Tariffs on imports from Mexico and Canada have been reduced under the United States-Mexico-Canada Agreement (USMCA), and tariffs on Chinese imports have been lowered from over 100% to a baseline of 10%. However, many Americans continue to report dissatisfaction with rising costs in housing, childcare, and healthcare, despite some reductions in gas and egg prices.

At the rally, Trump characterized concerns about affordability as a Democratic 'hoax,' attributing ongoing economic challenges to President Joe Biden and the U.S. Federal Reserve's interest rate policies. Although the Federal Reserve has lowered rates to approximately 3.9%, inflation remains above the target rate at 3%. Economic indicators present a mixed picture; while the stock market is near record highs, consumer confidence has declined to its lowest level since spring.

Individual experiences reflect the broader economic strain, with some Americans, like Alaina Hunt, expressing frustration over job losses and rising grocery bills attributed to Trump's tariffs on steel and aluminum. Despite these challenges, Trump continues to rate his economic performance highly, claiming an 'A-plus-plus-plus-plus-plus.' As he campaigns, the effectiveness of his messaging will likely depend on evolving economic conditions and public sentiment, which remain uncertain.