The Financial Times has reported that Donald Trump’s administration is under growing strain, largely due to worsening economic conditions, particularly falling consumer confidence and heightened concerns about the U.S. and global economies.
In a detailed article by columnist Gillian Tett, the newspaper points to the economic uncertainty triggered by Trump’s tariff policies, warning that these measures could fuel inflation to dangerous levels, posing a serious threat to both domestic stability and global markets.
Trump’s Economic Promises vs Harsh Reality
The report examines Trump’s economic policies—especially those tied to oil, fossil fuels, and energy—suggesting that the economic climate may no longer support the ambitious campaign promises he made during his re-election bid.
One alarming sign: U.S. consumer confidence has plunged to its lowest level in 12 years, falling below the minimum threshold that often signals an imminent recession.
The FT highlights that multiple surveys—not just the well-known Conference Board index—are confirming that American consumers, who are also voters, are losing trust in Trump’s economic agenda, particularly as tariffs are expected to drive inflation up to 6%.
Three Arrows of Trump’s Economic Plan
According to the article, Trump’s economic programme is built on three strategic targets:
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- Reducing the federal deficit to 3% of GDP
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- Achieving sustained economic growth of 3%
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- Boosting oil production to 3 million barrels per day
These goals were repeatedly promoted by U.S. Treasury Secretary Scott Pizzanet, and are central to Trump’s vision of “economic strength through energy dominance.”
But analysts warn that these targets are at risk, particularly as inflation threatens purchasing power, and geopolitical tensions complicate U.S. influence over global oil markets.
Oil as a Political and Economic Lever
The FT notes that Trump may use oil strategically—not only to tame inflation, but also to reassert American global dominance. As food and energy prices are core components of consumer inflation, a fall in oil prices could cool inflationary pressures.
More importantly, if Trump meets his oil production targets, the U.S. could strengthen its geopolitical grip, outmaneuvering organisations like OPEC and exerting control over pricing.
This, the paper suggests, would give Washington a powerful advantage in negotiations with oil-producing countries, including Saudi Arabia and Russia, potentially reshaping the global energy balance in favour of the United States.
