Sierra Club: Rising Prices Directly Linked to Trump Tariffs, Cuts to Clean Energy

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CPI Data Released Today Shows Trump’s Trade, Energy Policy is on the “Wrong Course”

WASHINGTON, DC — Today, the Bureau of Labor Statistics released consumer price index data for September to November, showing a 2.7% increase in inflation for goods and services. BLS did not release an October report due to Republicans’ refusal to fund affordable healthcare, which ignited the longest government shutdown in history, which many economists argue distorts the data released today. Prices are up across the board and one of the driving factors of inflation is energy prices, which rose 4.2% over the year.

The Trump administration’s decisions around trade and energy are harming American clean manufacturing competitiveness, driving pollution that threatens public health, and worsening the affordability crisis. When tariffs and other trade barriers are not paired with domestic investments to fill the gap and boost American productivity, costs go up, supply goes down, and the job market suffers.

Eliminating affordable, clean energy development by cutting investments and preventing construction and increasing the amount of methane gas exports are causing energy prices to skyrocket. Just this week, the National Energy Assistance Directors’ Association projected home heating costs will rise 9.2 percent this winter and today’s CPI release already shows fuel oil up 11.2%.

In response, Sierra Club Industrial Transformation Campaign Lead Harry Manin issued the following statement: 

“Trump’s manic approach to tariffs hurts American competitiveness and drives up costs, while Congressional Republicans and the administration’s cuts to clean energy projects are creating a dangerous situation for many families who will find it challenging to afford to heat their homes this winter. Based on their actions, it would seem the Trump administration’s central ideology is to raise prices and increase pollution.

“Thoughtful tariffs that boost environmental standards alongside investment into clean, affordable energy, like solar and wind, would make the grid more reliable, create good-paying American jobs, and drive down costs. The steep increase of energy prices noted in today’s data release shows the Trump administration is putting the country on the wrong course and the American people will continue to suffer the consequences from increased pollution and unaffordable energy, no matter how often the President calls the affordability crisis a ‘hoax.’”

About the Sierra Club

The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person’s right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.