CBO Bombshell Shows Trump’s Tariffs Saving Trillions in Federal Debt The Congressional Budget Office (CBO) has released updated projections showing that tariffs implemented under President Donald Trump are expected to reduce federal deficits by $4 trillion over the next decade, a figure that far exceeds earlier estimates. According to the CBO report issued August 19, the effective tariff rate for goods imported into the United States has risen by about 18 percentage points when measured against 2024 trade flows. The agency projects that increases in tariffs between January 6, 2025, and August 19, 2025, will decrease primary deficits—those excluding net interest—by $3.3 trillion if the higher tariffs are sustained through 2035.
Theres no telling what the tariffs will be in the next 10 weeks much less 10 years.The next President will probably end them as its a tax on the poor and middle class to try to pay for tax cuts for the rich.
The NYT ran an article last week to the effect that the tariffs will be hard to get rid of because they raise such much money.
They can be gotten rid of as easy as they were implemented.They do raise money,but from the poor and middle class.Obama and Clinton ended some of the Bush and Reagan tax cuts.If the next Democrat President isn't as bad as Biden he will end the tariffs and end some of the Trump tax cuts to replace the lost tariff revenue.