There is no such trick. Python is only now getting those sort of JIT style optimizations, and that one in particular still hasn't hit. Do not use += on strings in a loop unless you are certain the iteration count will be small.

There is an optimization for lists, and maybe that's what GP is remembering. l += is functionally different from l = l +. The former mutates l, whereas the latter creates a new l. The difference matters when the line above is m = l. The mutation version will mutate m as well (they're the same reference), the creates new version will not. This optimization can just as easily turn into a footgun if the programmer is unaware of it, and in that sense is unpythonic.