President Donald Trump’s tariffs will reduce federal deficits by $2.8 trillion over ten years, after accounting for other economic impacts, the Congressional Budget Office estimated in a letter to Senate Democrats this week.
“In CBO’s assessment, the changes in tariffs will reduce the size of the U.S. economy—in part because of tariffs imposed by other countries in response to the increases in U.S. tariffs. After accounting for that change in the size of the economy, CBO estimates that the changes in tariffs will reduce total federal deficits by $2.8 trillion,” it read.
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Author: Dillon B
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