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President Donald Trump scored a major victory this week as one of his most controversial policies—his aggressive tariff strategy—received unexpected praise from a leading economist who once predicted it would lead to recession. The reversal sparked a passionate response from the President, who declared it one of the most satisfying moments of his time in office.
During a White House press conference, a reporter posed a question referencing economist Torsten Sløk’s changed stance. Sløk, chief economist at Apollo Global Management, had previously warned that Trump’s use of tariffs could trigger economic decline. However, in a recent analysis, he admitted the administration may have “outsmarted everyone” by turning what appeared to be protectionism into a calculated, strategic policy.
“This is the best question I’ve ever been asked,” Trump beamed, pointing to years of criticism he had faced. “We’re taking in hundreds of billions of dollars. No inflation. No recession. It worked.”
Sløk’s shift marks a major moment in the broader debate over Trump’s economic legacy. When the President introduced sweeping tariffs on trade partners like China, Mexico, and the EU, critics warned of rising consumer costs, global retaliation, and market instability. Sløk echoed these concerns early on, joining a chorus of economists who labeled the approach reckless and short-sighted.
Yet, as the data poured in, the reality proved very different. The U.S. economy has remained strong, with unemployment low, GDP steady, and markets soaring. On June 27, both the S&P 500 and Nasdaq reached record highs, fueled by robust economic indicators.
In his updated analysis, Sløk argued that Trump’s tariffs might not be permanent measures, but tactical levers meant to push global trade partners into fairer deals. He outlined a scenario where sustained tariffs could yield $400 billion in annual revenue while encouraging long-term trade liberalization—a dual win for America’s economy and negotiating position.
Trump echoed that sentiment. “They said we’d have a recession. They were wrong. Maybe they need to go back to business school,” he said with his trademark bluntness.
The administration’s success challenges decades of conventional economic wisdom, proving that nontraditional methods can produce unexpected results. Sløk’s reversal suggests that Trump’s tariffs weren’t blunt-force protectionism, but a sophisticated tactic aimed at resetting global trade dynamics.
For Trump, who built his campaign on reshaping America’s trade relationships, the moment is more than personal vindication—it’s policy validation. And for economists and policymakers, it’s a clear reminder that in today’s complex global economy, unorthodox thinking can sometimes deliver the most surprising wins.
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