CBO: Trump Tariffs Could Reduce US Deficit by Up to $2.8 Trillion
TL;DR Summary
The Congressional Budget Office reports that Trump's tariffs could reduce the federal deficit by nearly $3 trillion, while his tax cuts would significantly widen it by about $2.4 trillion over ten years. The tariffs are projected to increase inflation slightly and are subject to legal and political uncertainties, making their long-term fiscal impact uncertain.
- CBO: Trump tariffs would bring down deficits by trillions, tax bill widens them Axios
- Tariffs will reduce deficits by $2.5 trillion over 10 years: CBO The Hill
- Budgetary and Economic Effects of Increases in Tariffs Implemented Between January 6 and May 13, 2025 Congressional Budget Office (.gov)
- CBO Projects Trump Tariffs to Cut Budget Gap by $2.8 Trillion Bloomberg
- Trump's tariffs to curb US economic growth while reducing deficit: CBO report USA Today
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