During a press conference celebrating recent Supreme Court victories, President Donald Trump shifted the focus to one of his key economic policies—tariffs. When a reporter mentioned that a prominent economist had reversed course and now supported Trump’s strategy, the president welcomed the question, calling it his favorite and saying, “We’re receiving hundreds of billions of dollars, with no inflation whatsoever.”
Pressed on critics who claim tariffs contributed to a recession, Trump strongly disagreed, suggesting those critics should “go back to business school.” He described a conversation with a House official who believed there was a financial reporting error due to unexpectedly high revenue. After further review, the official confirmed the U.S. had collected $88 billion in tariffs.
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Trump argued that the impact of tariffs goes beyond revenue, pointing to increased domestic investment. He claimed companies are returning to the U.S., building factories, and focusing tech development—including AI—within the country rather than overseas. He also highlighted foreign investment, claiming the U.S. secured $5.1 trillion from Saudi Arabia, Qatar, and the UAE alone, separate from tariff income.
He tied some of this support to the 2024 election period, suggesting that international leaders preferred his administration and policies. Trump also shared that Texas Instruments recently pledged a $60 billion investment and urged him to keep tariffs in place. He warned that if another candidate wins, there’s concern those tariffs might be eliminated, but assured supporters that under his leadership, they would remain.