If Trump declares that the U.S. is laying claim to all of the green cheese on the moon — say, to lower the price of dairy groceries — the news media should not respond with fact-finding articles with headlines like “How Much Cheese Is on the Moon?” They should respond with headlines like “How Many Marbles Are Left in Trump’s Head?”

Tom Fairless, reporting for The Wall Street Journal (main link is a gift link; here’s a News+ link too):

The German research echoes recent reports by the Budget Lab at Yale and economists at Harvard Business School, finding that only a small fraction of the tariff costs were being borne by foreign producers.

By analyzing $4 trillion of shipments between January 2024 and November 2025, the Kiel Institute researchers found that foreign exporters absorbed only about 4% of the burden of last year’s U.S. tariff increases by lowering their prices, while American consumers and importers absorbed 96%. [...]

Rather than acting as a tax on foreign producers, the tariffs functioned as a consumption tax on Americans, the report said. “There is no such thing as foreigners transferring wealth to the U.S. in the form of tariffs,” said Julian Hinz, an economics professor at Germany’s Bielefeld University who co-authored the study.

This is what economists expected, but it’s always important to measure actual results, no matter how obvious the conclusions seem in advance. But this one feels like we could file it next to “Sun continues to rise in east, set in west.”

My thanks to WorkOS for sponsoring DF last week. Connecting user accounts to third-party APIs always comes with the same plumbing: OAuth flows, token storage, refresh logic, and provider-specific quirks. WorkOS Pipes removes that overhead. Users connect services like GitHub, Slack, Google, Salesforce, and other supported providers through a drop-in widget. Your back end requests a valid access token from the Pipes API when needed, while Pipes handles credential storage and token refresh. That’s it.

Simplify your integrations with WorkOS Pipes.

Starting with a few words on the new app icons.

Verizon, in an announcement on Twitter/X regarding their daylong outage this week:

Yesterday, we did not meet the standard of excellence you expect and that we expect of ourselves. To help provide some relief to those affected, we will give you a $20 account credit that can be easily redeemed by logging into the myVerizon app. You will receive a text message when the credit is available. On average, this covers multiple days of service. Business customers will be contacted directly about their credits.

This credit isn’t meant to make up for what happened. No credit really can. But it’s a way of acknowledging your time and showing that this matters to us.

I got the text message last night (screenshot), and redeemed it this morning. It wasn’t too hard to redeem, partly because I already had the My Verizon app installed and had my account credentials saved.

But you know what would actually be easy, and would actually acknowledge our time and show that this really matters to Verizon? If they just took $20 off every customer’s next bill. Automatic. Just take $20 off next month. If a good restaurant screws up an item you ordered, they apologize and take the item off your bill (and maybe give you a free dessert or something). They don’t give you a code to redeem.

It would also better show that they care if the text message spelled the app “My Verizon”, which is the app’s actual name.

As for how many days of service $20 covers, we pay $329/month for a “5G Do More” family plan for me, my wife, and son. Three phones, three Apple Watches, and two iPads. (I’m the one without a cellular iPad plan, because I so seldom use an iPad.) That’s about $11/day. Verizon only sent us one $20 credit, not three, so that covers roughly two days of service — which is, indeed, multiple days.