On April 28, 2025, U.S. President Donald Trump announced that the new tariff system implemented by his administration could lead to a significant reduction or even complete elimination of federal income taxes for Americans. According to Trump, revenue from import tariffs, which have already caused global trade tensions, will become the main source of funding for the U.S. budget. He noted that families earning up to $200,000 a year could experience the most relief.
Economists express skepticism about this initiative. Tariffs, which have increased to an average level of 27% since January 2025, have already caused stock markets to fall by $11.1 trillion and inflationary pressure. Critics warn that replacing taxes with tariffs could lead to a budget deficit, as import revenues are unstable and depend on global trade. Supporters believe it will stimulate domestic production.
Trump called the plan a 'golden era' for America, but experts warn of potential economic risks, including recession. Whether this ambitious reform can be implemented remains to be seen.
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