Eric Trump, executive vice president of the Trump Organization and son of President-elect Donald Trump, recently shared his views on tariffs, inflation and Federal Reserve policy.
Speaking exclusively with Benzinga‘s Bibhu Pattnaik, Eric Trump outlined his father's plans to address economic challenges, including energy costs, government spending, and international trade policies.
On tariffs, Eric Trump dismissed concerns about their potential to drive inflation. "What's going to drive inflation decreasing is frankly freeing up energy," he explained, adding that energy costs account for a significant portion of inflation.
He expressed confidence that his father's policies, focused on increased domestic drilling and utilization of natural resources, would lower energy prices. Combined with proposed government spending cuts of $1 trillion in the first year or two.
“Energy makes up about 60% of inflation. And energy is going to come down in a very big way. Because my father wants a drill. He wants to utilize natural resources. And you won’t have a war on energy. Then second of all, you’re going to look at DOGE. And they’re going to cut a trillion dollars out of spending in the first year or two. Which has to happen. And when you look at the cuts in spending and when you look at, you know, obviously oil and gas coming down, that’s going to drive inflation way down. That’s going to drive interest rates down,” Eric Trump told Benzinga.
Eric Trump argued these measures would bring down inflation, reduce interest rates, and make financing homes, businesses, and even crypto investments more affordable.
“That’s going to free up a lot of capital that could otherwise be used. It’s going to make buying a new home more affordable. That’s going to be financing businesses more affordable. That’s going to make borrowing so you can purchase crypto more affordable. I think there’s a lot of great things to come,” he added.
When asked about the Federal Reserve's approach to balancing inflation and recession risks, Eric Trump declined to offer specifics. However, he touched on his father's broader leadership strategy, emphasizing his firm stance on international conflicts and economic policies.
"He's put a lot of people on notice… to stop playing games," Eric Trump said, referencing efforts to resolve global conflicts and hold foreign powers accountable for trade imbalances.
Eric Trump praised his father's commitment to protecting U.S. interests through tariffs and strong foreign policy. He highlighted moves like signaling disengagement from prolonged Middle Eastern conflicts and pushing back against unfair practices by China and NATO.
"He's going to stop getting ripped off by foreign powers," he said, underscoring his father's approach to fostering peace, stability, and economic strength.
As the Trump administration prepares to take office, these statements offer a glimpse into its potential economic priorities, signaling a focus on energy independence, fiscal responsibility, and assertive international policies.
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