It's the equivalent of a new payroll tax or a 17% cut in the size of the military, according to a top think tank.
When the next recession hits, whoever is president will face intense pressure to cut tariffs, so don’t rely on them for revenue, top economist says
August 11, 2025
Trump tariffs would cut deficits by $2.8 trillion over 10 years—while shrinking the economy and raising inflation, CBO says
BY FATIMA HUSSEIN AND ASSOCIATED PRESS
June 5, 2025
It's the equivalent of a new payroll tax or a 17% cut in the size of the military, according to a top think tank.
"At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent…
In exclusive interviews with Fortune, Wharton’s Professor Joao Gomes and AEI’s Desmond Lachman warned that while tariffs may slow…
In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One…
Fortune's Shawn Tully and Steve "the money doctor" Hanke have argued that they bear a strong, uncanny resemblance to a tax…
Despite this surge in tariff revenue, the deficit still totaled $1.8 trillion, or roughly 6% of GDP. And if the Supreme Court…
