ByAntonio Pequeño IV,
Forbes Staff.
The Congressional Budget Office has lowered its estimate for U.S. fiscal savings from President Donald Trump’s tariff policy by $1 trillion, according to a report Thursday, which made multiple downward adjustments to expectations around the president’s tariffs.
Recent tariff changes will produce $3 trillion in total savings, the office said, down from the $4 trillion savings estimate it made in August.
The office projects an uptick in tariffs introduced from January to November will lower budget deficits by $2.5 trillion over the next 11 years, down from the $3.3 trillion projected in August.
