#TrumpTaxCuts

According to US latest news, President Trump mentioned a new income tax cut on Sunday as a way to mitigate the impact of his sweeping tariffs, which polls show Americans increasingly believe will lead to higher prices.

The concerns were raised by economist Steve Hanke regarding the potential economic impact of tariffs proposed by Trump. Hanke is warning that these tariffs could lead to significant negative consequences for the economy, similar to the market crash experienced during the 1930s.

Hanke characterizes tariffs as an "economic wrecking ball," implying that they can cause widespread damage to the economy. This includes potential job losses, reduced consumer spending due to higher prices, and overall economic contraction. And emphasizing their potential to harm the economy rather than protect it.