$18 Trillion in Tariffs? Let’s Do the Math

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Donald Trump says tariffs generated $18 trillion in just 10 months—and some Republicans are repeating it like it’s gospel. But let’s slow down and apply a little basic math. $18 trillion is nearly two-thirds of U.S. GDP. If that kind of money actually flowed into the country, manufacturing, construction, and investment would be exploding. They’re not—they’re moving in the opposite direction.
In this episode, Chris breaks down what tariff revenue really looks like (hint: it’s under $300 billion), why there are no written $18 trillion investment “commitments,” and how exaggeration turns into outright misinformation once politicians and pundits start echoing it. Supporting pro-growth policy doesn’t require fantasy numbers—and repeating them only insults the public’s intelligence.
Facts matter. Trillions matter. And if we want credibility on economic policy, we have to stop pretending a big fish story is an actual balance sheet.

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