U.S. President Donald Trump holds up a chart of reciprocal tariffs while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025. Chip Somodevilla /Getty Images
A report released on Friday by the Congressional Budget Office (CBO) predicted that President Donald Trump’s tariffs will reduce federal deficits by around $4 trillion over the next decade.
If Trump’s global tariff hikes continue, increased revenue could shrink primary deficits by $3.3 trillion and cut federal interest payments by $0.7 trillion over the next decade, the CBO said. The current top tariff rates may not hold as negotiations with trading partners and international legal challenges are ongoing.
Original News Source Link – Epoch Times
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