Axios Admits a Major Anti-Trump Economic Narrative Is Dead

Matt Vespa | May 16, 2025 6:30 AM

We were told economic Armageddon was upon us. April was going to be the worst market month since 1932. The price of goods would spiral out of control, and a recession loomed. Why? We have a president willing to fight for American workers, retool the system to bring back high-skill manufacturing jobs, and force a mass re-negotiation of trade deals.

The market had an adjustment period, which we all knew was coming, Liberation Day or not, and there’s been a massive rebound. All the economic panic porn from the Left has vanished, and the cheering for an economic crash burned to ash.

Ruh Roh - narrative crumbling https://t.co/a5iXf3bPrz
— Scott Jennings (@ScottJenningsKY) May 15, 2025

Well well well well well well well! https://t.co/TazNl1UJ9P
— Batya Ungar-Sargon (@bungarsargon) May 15, 2025

https://t.co/gcktKrxmN0 pic.twitter.com/4qS1s0iSyz
— Alex Pfeiffer (@Pfeiffer47) May 15, 2025

It's yet another time when the Democrats, media, and anti-Trump Republican clowns got ahead of their skis. Axios is now reporting that the panic over tariffs was “overblown” (via Axios):

With major indicators from April — the month of peak tariff uncertainty — now in, none show the kinds of recessionary or inflationary conditions implied by business and consumer surveys.
Why it matters: Warnings and anecdotes are taking on greater importance as signs of how tariffs are working their way through the economy.
The big picture: New data out Thursday showed steady retail sales and a surprising drop in wholesale prices in April. So far, so good.
[…]
The bottom line: "There is little evidence, so far, that tariffs are inflationary and instead profit margins are being squeezed. But as Walmart suggested Thursday morning, that is a situation that may not last long," ING chief international economist James Knightley wrote in a note.

The best is that Walmart said that they might have to increase prices over the ongoing trade negotiation between Washington and Beijing. When I was in high school, Walmart was anathema to the Left, the mecca of economic evil that enslaved and exploited its workers. It had to be destroyed. That was then, now it’s ‘look, Walmart is saying the tariffs are bad…maybe.’ It’s beyond laughable. The overall message is that everyone needs to simmer down on the panic over tariffs. It’s another anti-Trump economic narrative that’s collapsed.