#TrumpTaxCuts TrumpTaxCuts President Trump proposed a new income tax cut on Sunday as a way to mitigate the impact of his massive tariffs, which, according to polls, an increasing number of Americans believe will lead to higher prices.

"When the tariffs take effect, the income taxes for many people will be significantly reduced, possibly even completely eliminated," Trump wrote in a post on his Truth Social platform on Sunday.

"The focus will be on people earning less than $200,000 a year," he continued.

Trump defended the strategy behind his high tariffs in his post, claiming that "huge numbers of jobs are already being created, with new factories and plants currently being built or planned. This will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS ALREADY IN ACTION!!!"