Institute on Taxation and Economic Policy (ITEP)

October 20, 2026

BBC News: How is the US Economy Really Doing Under President Trump

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While the overall US economy is faring better than many expected after Trump launched his sweeping “Liberation Day” tariffs in 2025, there’s evidence those import taxes and the impact of the US-Israel war with Iran have pushed up inflation, with the harmful effects felt by most American households.

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