Even Axios Admits It: Trump’s Economy Is Booming Despite Leftist Panic Over Tariffs

In a moment of rare honesty, the liberal-leaning Axios was forced to concede that President Donald J. Trump’s economic strategy is proving wildly effective, leaving critics looking foolish as the American economy roars ahead under his leadership.

Chief economic correspondent Neil Irwin authored a piece titled, “Why everything’s coming up Trump on the economy,” and the title says it all. Irwin admits that “economic, market, and policy developments have been a wind at the president’s back in the last two months,” and that the feared consequences of President Trump’s bold trade agenda have “not materialized.” In fact, he writes, “economic naysayers — for the moment, at least — look silly.”

Irwin goes so far as to challenge the skepticism surrounding Trump’s trade war escalation. “Why is President Trump escalating a trade war that had seemed dormant, threatening high tariffs on major trading partners, imported copper, and pharmaceuticals? A better question is ‘why not’?”

Indeed, why not? Three months ago, the corporate media pushed panic, warning of stock market collapse, looming recession, and supply chain chaos. None of it came true. As Irwin himself now notes, the unemployment rate has dropped to 4.1%, the stock market is hovering near record highs, and inflation remains flat.

Meanwhile, President Trump secured a major legislative win by signing the Big Beautiful Bill into law on Independence Day — a clear signal to markets and voters alike that America First economics is back in full force.

Irwin attempts to hedge his analysis with a cautionary note, stating, “The U.S. economy is a big, complex beast,” and suggesting it will take time for companies to adjust to the 2025 trade policy overhaul. But even he cannot deny the reality on the ground: Trump’s second term is off to a booming economic start.

And it’s not just Axios sounding the alarm over their collapsing narrative. Even CNBC has reported that inflation expectations are falling — not rising — in the wake of the President’s tariff plans. According to the network, “The central bank’s monthly Survey of Consumer Expectations shows that respondents in June saw inflation at 3% 12 months from now. That’s the same level it was in January — before Trump took office and began saber-rattling over trade.”

The inflation panic that media pundits stoked in April is now giving way to facts. The 3.6% inflation forecast peak from March and April has retreated, and tariffs still aren’t showing up in inflation data. CNBC bluntly admitted, “Thus far, tariffs have yet to show up in most inflation readings.”

White House Senior Counsel for Trade and Manufacturing Peter Navarro offered a blunt explanation during a Wednesday appearance on Fox Business. He directly addressed why tariffs aren’t triggering inflation, dismantling the argument made by Federal Reserve Chairman Jay Powell.

“I think the key thing here, and why Jay Powell is so wrong about not lowering [interest] rates, is to recognize the enormous ability of the world to absorb the tariffs,” Navarro said.

“It’s like Navarro’s law: the bigger the screw job we’re getting from any given country, the more that country is able to absorb the tariffs. The more they cheat us, the more they can absorb the tariffs.”

Navarro summed up what the data clearly supports:

“We’re seeing the tariffs from countries around the world, and we’re not seeing any inflation, because basically, they’re eating the tariffs.”

As the evidence mounts, even leftist media outlets are being dragged — kicking and screaming — into the truth: President Trump’s America First agenda is working. And it’s working bigly.