Economist Peter Schiff is calling out President Donald Trump’s claims regarding $17 trillion in new investments flowing into the U.S. economy.
The Claim Is ‘Clearly’ Nonsense
On Thursday, in a post on X, Schiff pushed back against Trump’s claim that “an unprecedented $17 trillion will be invested in the U.S. over the next year because we have the hottest economy in the world.”
See Also: America ‘Could Suffer The Most’ From Tariffs, Says Uniqlo CEO: Warns The World ‘Could Go Bankrupt’
Schiff called out the fallacy of the statement, highlighting the magnitude of the figure and the mathematical and economic implications if that were to be realized. “If true, GDP growth would explode by roughly 50%,” he said, considering the current U.S. GDP stands at $30.354 trillion.
He added that capital inflows of this scale would lead the U.S. Dollar to “skyrocket,” while concluding that this claim by Trump is “clearly” not true.
Trillions In Investments ‘Will Be Cancelled’ If Tariffs Are Struck Down
During a press conference in Aylesbury, England, on Thursday, Trump said that $17 trillion will be invested in the U.S. over eight months, drawing parallels with the Biden administration’s record, which he said was at $250 billion during its last year.
Journalist Aaron Rupar echoed Schiff’s concerns in a post on X. He said that “Trump keeps lying” about this figure, while highlighting the fact that “the entire US GDP is about $30 trillion.”
Trump has made such claims several times recently, saying that if the tariffs were reversed by the Supreme Court, the U.S. would be indebted to other countries for “trillions and trillions of dollars.”
Early this month, Trump said in a Truth Social post that “More than 15 Trillion Dollars will be invested in the USA, a RECORD. Much of this investment is because of Tariffs,” while adding that these investments would be “immediately cancelled,” if a “Radical Left Court is allowed to terminate these Tariffs.”
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