As Trump’s tariffs begin to kick in around the world, The Washington Post analyzed two of his claims: “we were losing $2 billion a day [under President Joe Biden], and “now we’re making $3 billion a day.”

In an analysis, Glenn Kessler wrote, “both the Treasury Department and the data released by Customs and Border Protection show Trump is way off the mark.”

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Kessler gave Trump “Four Pinocchios” and said, “Trump is peddling two nonsense numbers. First, tariffs are already bringing in $3 billion a year. He’s off by a factor of 10. Second, that Biden was losing $2 billion a year. That reflects a misunderstanding of trade — though with profound consequences.