The US president defends his economic policies as polls show voters are increasingly worried about prices.
Published November 18, 2025
US President Donald Trump defended his administration’s record on lowering prices in the face of growing frustration among Americans over the cost of living.
In a speech to McDonald’s franchise owners and suppliers on Monday, President Trump claimed credit for bringing inflation back to “normal” levels, promising to keep price increases even lower.
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“We’re keeping it at a low level, but we’re going to lower it a little bit more,” President Trump said.
“We seek perfection.”
Returning to the usual narrative that Democrats mismanaged the economy, the Republican president blamed former US President Joe Biden for cost pressures and insisted Americans were “really lucky” to have won the 2024 election.
“Nobody’s done what we did in terms of pricing. We inherited a mess,” Trump said.
Trump, who focused his 2024 presidential campaign on the cost of living, has struggled to win over Americans with his protectionist economic message amid persistent concerns about affordability.
In an NBC News poll released this month, 66% of respondents said President Trump has underperformed expectations on affordability, and 63% said the same about the economy overall.
Voter anxiety about prices is widely seen as a key reason why Republicans suffered hard losses in off-year elections held earlier this month in several states, including New Jersey and Virginia.
Despite repeatedly downplaying the impact of his tariffs on prices, President Trump on Friday signed an executive order lowering tariffs on 200 food items, including beef, bananas, coffee and orange juice.
President Trump also introduced $2,000 rebate checks and 50-year mortgages funded by tariffs as part of addressing affordability concerns.
Inflation has fallen markedly since hitting a 40-year high of 9.1% under the Biden administration, but remains well above the Federal Reserve’s 2% target.
Inflation rose to 3% in October, hitting the 3% mark for the first time since January, but many analysts had expected an even higher number due to President Trump’s trade salvo.
Trump, a well-known fan of McDonald’s, spent much of his speech on Monday praising the fast food chain and casting it as a symbol of his economic policies.
“Together, we are fighting for an economy where everyone wins, from the cashier starting her first job to the franchisee opening her first store to cater to the young families waiting in the drive-thru line.”
President Trump also expressed “special thanks” to the fast food giants, which have been rolling out more affordable menu items, including reintroducing $5 and $8 value meals that were phased out in 2018.
“We’re lowering prices for this country, and there’s no better leader or champion than McDonald’s,” he said.
