“A new Study by the Council of Economic Advisers (CEA), led by Highly Respected Chair, Dr. Stephen Miran, has found that Tariffs have had ZERO IMPACT on Inflation. In fact, the Study shows that Import Prices are actually DROPPING, just like I always said they would. The Fake News and the so-called Experts were wrong again. Tariffs are making our Country BOOM. Many new Factories, Jobs, and TRILLIONS OF DOLLARS in Investments are pouring into the U.S.A. Someone should show this new Study to Too Late Jerome Powell, who has been whining like a baby about non-existent Inflation for months, and refusing to do the right thing. CUT INTEREST RATES JEROME — NOW IS THE TIME!” @realDonaldTrump

Fact-Check Summary

The central claim is that a recent Council of Economic Advisers (CEA) study proves tariffs have “zero impact on inflation,” with import prices falling and the economy booming. Fact-checking the CEA report reveals: it does show import prices fell from December 2024 to May 2025 and found no acceleration in inflation attributable to tariffs during this interval. However, the study specifically limits its conclusions: it does not take into account what inflation would have been without tariffs (“counterfactual”), and its period is only several months. Contradictory research—most notably by the Federal Reserve—found that tariffs contributed to inflationary pressure, though not dramatically. Thus, the claim is partially accurate regarding import pricing but highly oversimplifies the broader impact of tariffs on inflation. Corporate investment and jobs are up in some sectors, but net national job losses and declines in foreign direct investment are likely as a result of tariffs, per independent analyses.

Belief Alignment Analysis

The post champions a policy narrative that minimizes the risks of tariffs while amplifying their short-term success. This approach, by omitting the real economic trade-offs—especially impacts on inflation, jobs, and global investment—complicates the public’s ability to make informed, democratic decisions. Presenting partial facts or omitting countervailing evidence risks undermining transparent public debate, which is essential for a free, fair, and inclusive democratic society. Additionally, the content’s use of loaded language and personal attacks against public officials (“whining like a baby”) is divisive and undermines the principle that America belongs to all its citizens, not just those who shout the loudest or command the most power.

Opinion

While the recent CEA study offers optimism about import prices and short-term inflation outcomes, it is not the whole story. Relying solely on this evidence without acknowledging other credible sources—like Federal Reserve data showing modest inflationary effects or projections of job losses—presents an incomplete narrative. Democratic discourse demands rigor and balance. Leadership requires rooting policy decisions and advocacy in fact, context, and acknowledgment of uncertainty, not simplification or vilification of public servants. Decisions about tariffs and economic policy must be based on a wholesome view, including potential downsides.

TLDR

The claim that tariffs had “zero impact on inflation” is based on a limited CEA study and does not account for evidence from the Federal Reserve and others showing actual inflationary effects. Import prices are down for the period examined, but the broader impact of tariffs is more complex and carries risks for jobs, investment, and democratic debate.

Claim: A new CEA study found tariffs have had zero impact on inflation and are driving economic growth, with import prices dropping.

Fact: The CEA study indicates import prices did fall and found no short-term inflation spike tied to tariffs, but its findings are limited in scope and explicitly do not settle the overall impact question. Independent research, including from the Federal Reserve, points to a modest but real inflation effect from tariffs and notes possible net job losses and falling foreign investment.

Opinion: While short-term data provide grounds for measured optimism, claims of “zero impact” and unequivocal economic boom from tariffs fail to recognize the policy’s downsides and the importance of open debate. An informed democracy requires the public to hear the full story—including the trade-offs and uncertainties—instead of oversimplified claims.