Authored by Cavallo & two colleagues, it finds that “ #US #consumers were bearing roughly 43% of the tariff-induced border cost after 7 months, with the remainder absorbed mostly by US firms.” Cavallo said by email that import prices hadn’t fallen much, “which suggests foreign exporters did not reduce their pre-tariff prices enough to shoulder a large share of the burden.″

#delusional #Trump #economy #tariffs #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

CLAIM: “The data shows that the burden, or ‘incidence,’ of the #tariffs has fallen overwhelmingly on foreign producers & middlemen, including large corporations that are not from the #US. According to a recent study by the Harvard Business School, these groups are paying at least 80% of tariff costs.”

THE FACTS: The study #Trump cited appears to conclude the opposite of what Trump claimed.

#delusional #economy #inflation #CostOfLiving #affordability #recession #FactCheck #TrumpLies

Alberto Cavallo, an economist at Harvard & the author of a study on the impact of #tariffs [stupidly] cited by #Trump in his op-ed, has found that Trump’s tariffs have boosted overall #inflation by roughly three-quarters of a percentage point.

#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

Authored by Cavallo & two colleagues, it finds that “ #US #consumers were bearing roughly 43% of the tariff-induced border cost after 7 months, with the remainder absorbed mostly by US firms.” Cavallo said by email that import prices hadn’t fallen much, “which suggests foreign exporters did not reduce their pre-tariff prices enough to shoulder a large share of the burden.″

#delusional #Trump #economy #tariffs #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

CLAIM: “The data shows that the burden, or ‘incidence,’ of the #tariffs has fallen overwhelmingly on foreign producers & middlemen, including large corporations that are not from the #US. According to a recent study by the Harvard Business School, these groups are paying at least 80% of tariff costs.”

THE FACTS: The study #Trump cited appears to conclude the opposite of what Trump claimed.

#delusional #economy #inflation #CostOfLiving #affordability #recession #FactCheck #TrumpLies

Alberto Cavallo, an economist at Harvard & the author of a study on the impact of #tariffs [stupidly] cited by #Trump in his op-ed, has found that Trump’s tariffs have boosted overall #inflation by roughly three-quarters of a percentage point.

#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

The impact of the #Trump #tariffs can be more clearly seen in core goods prices, which also exclude food & energy. Before the pandemic, core goods costs typically barely rose — or even fell — each year, but last December they were 1.4% higher than a year earlier. That was the largest increase, outside the pandemic, since 2011.

#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

Annual core #inflation for the final six months of 2025 is higher at 2.6%. That is down from January 2025’s level but about where it was in October 2024. Overall, inflation has leveled off this year, & was 3% in September before the [orchestrated] government #shutdown, the same as it had been in January 2025.

#Trump #delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

#Trump’s figure for annual #inflation in the past 3 months — which excludes the volatile #food & #energy prices — is low, but reflects data distorted by the [orchestrated] government #shutdown in Oct & Nov, which disrupted the government’s #data collection & forced the agency that compiles the figures to plug in rough estimates in some categories that artificially lowered overall inflation.

#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

CLAIM: “Annual core inflation for the past 3 months has dropped to just 1.4% — far lower than almost anyone, other than me, had predicted.”

THE FACTS: #Trump is using cherry-picked data to vastly exaggerate where #inflation stands.

#delusional #economy #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

#Trump also likes point to solid gains in the #US #StockMarket. He noted that #stocks hit new highs 52 times in 2025. It’s true that the US stock market did well last year. But it underperformed many foreign stock markets. The benchmark S&P 500 index climbed 17% — a nice gain but short of a 71% surge in South Korea, 29% in Hong Kong, 26% in Japan, 22% in Germany & 21% in the UK.

#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

But growth rebounded in the second half of the year. From April through June, the #economy expanded at a healthy 3.8% pace. And from July through September, it grew even faster — 4.4%. A big part of the surge was a drop in #imports, likely reflecting #Trump’s #tariffs as well as the fact that importers had already stocked up at the start of the year. Strong consumer spending also drove economic growth.

#economy #inflation #CostOfLiving #affordability #FactCheck #TrumpLies

In 2024, the last year of the #Biden presidency, American GDP grew 2.8%, adjusted for #inflation, faster than any wealthy country in the world except Spain. It also expanded at a healthy rate from 2021 through 2023. All while recovering from the pandemic that began under & was made incredibly worse by #Trump.

#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

Here’s a look at the facts around Trump’s assessment of tariffs∶

CLAIM: “Just over one year ago, we were a ‘DEAD’ country. Now, we are the ‘HOTTEST’ country anywhere in the world!’”

THE FACTS: This is a standard statement from #Trump. But the #US #economy was hardly “dead” when Trump returned to office last year. And in Trump’s second term, it’s performed strongly — after getting off to a bumpy start.

#delusional #inflation #CostOfLiving #recession #trumpcession #FactCheck #TrumpLies

In 2024, the last year of the #Biden presidency, American GDP grew 2.8%, adjusted for #inflation, faster than any wealthy country in the world except Spain. It also expanded at a healthy rate from 2021 through 2023. All while recovering from the pandemic that began under & was made incredibly worse by #Trump.

#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession #FactCheck #TrumpLies

Here’s a look at the facts around Trump’s assessment of tariffs∶

CLAIM: “Just over one year ago, we were a ‘DEAD’ country. Now, we are the ‘HOTTEST’ country anywhere in the world!’”

THE FACTS: This is a standard statement from #Trump. But the #US #economy was hardly “dead” when Trump returned to office last year. And in Trump’s second term, it’s performed strongly — after getting off to a bumpy start.

#delusional #inflation #CostOfLiving #recession #trumpcession #FactCheck #TrumpLies

#FactCheck #TrumpLies

#Trump says #tariffs have created an economic miracle.
The #facts tell a different story.

#delusional #economy #inflation #CostOfLiving #affordability #recession #trumpcession
https://apnews.com/article/trump-economy-inflation-tariffs-gdp-fact-check-fc415e879519f14ea5219f00a97994f4?utm_source=onesignal&utm_medium=push&utm_campaign=2026-02-06-Fact+Focus

#factcheck “ BY MELISSA GOLDIN
Updated February 02, 2026 3:52 PM
CLAIM: Images show Mamdani as a child and his mother with Jeffrey Epstein and other public figures linked to the disgraced financier.
THE FACTS: The images were created with artificial intelligence. They all contain a digital watermark identifying them as such and first appeared on a parody X account that says it creates “high quality AI videos and memes.” “ https://apnews.com/article/fact-check-mamdani-mother-epstein-files-ai-photos-4d2adffd9790a83b34abf1eaf6cee349

#factCheck
The ICE People were created as a small police tactical unit that was tasked with disrupting hijacking organizer cells. This was a small part of the post-911, pro-authoritarian, pro-war, fraudulently concocted "Patriot Act" that allowed tens of thousands to be killed and dispossessed in phony wars of actual conquest & failure in Iraq, Syria, and Afghanistan, and the weapons testing-and-deployment alliance known as #abrahamAccord responsible for the still ongoing #2025genocide, all to deflect attention from alliance member al-Saud's actual responsibility for the attack on the US and to provide pathways to their imminent mutual US-led invasion of Iran for #oilPlunder, #landGrab, #whiteGlobalism, #islamaphobia, and new #persianWars. #warPretexts #boomerang #abolishICE #revokePatriotAct #revokeThePatriotAct #rebuildGaza #gazaForGazans #tribunals #acountability #warCrimes #crimesAgainstHumanity #refugees #forcedMassMigration #famine #manmadeDisaster

#factcheck “ BY MELISSA GOLDIN
Updated February 02, 2026 3:52 PM
CLAIM: Images show Mamdani as a child and his mother with Jeffrey Epstein and other public figures linked to the disgraced financier.
THE FACTS: The images were created with artificial intelligence. They all contain a digital watermark identifying them as such and first appeared on a parody X account that says it creates “high quality AI videos and memes.” “ https://apnews.com/article/fact-check-mamdani-mother-epstein-files-ai-photos-4d2adffd9790a83b34abf1eaf6cee349