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Trump Floats New Income Tax Cut in Bid to Ease Tariffs Bite#TrumpTaxCut Trump's First 100 Days: Sinking Popularity Inside 100 Dizzying Days The Policy Mastermind Tariffs Court Cases to Watch Executive Orders Politics Trump Floats New Income Tax Cut in Bid to Ease Tariffs Bite ļæ¼ President Donald TrumpĀ Photographer: Al Drago/Bloomberg ByĀ Catherine Lucey April 27, 2025 at 8:57 PM GMT+5:30 Updated onĀ April 28, 2025 at 4:02 AM GMT+5:30 Save Translate 3:52 Takeaways NEW Hide President Trump suggests that his tariffs will help reduce income taxes for people making less than $200,000 a year. Summary by Bloomberg AI Trump's administration is working on bilateral trade deals with 17 key trading partners, excluding China, and is pushing for a trade deal with China, which Beijing has denied. Summary by Bloomberg AI Trump wants to extend and expand tax breaks, including exempting workers' tips and social security earnings, and slashing the corporate tax rate to 15% from 21%. Summary by Bloomberg AI Watch ļæ¼ 3:21 Temu and Shein to Pass All Of Trump Tariffs To US Shoppers More Like This Politics Trump to Offer Auto Tariffs Reprieve After Carmaker Appeals Politics Philippines Aims to Lower US Tariff to Zero During Talks PresidentĀ Donald TrumpĀ suggested Sunday that his sweeping tariffs would help him reduce income taxes for people making less than $200,000 a year, as public anxiety rises over his economic agenda. Trump has previously argued that tariff revenue could replace income taxes, though economists have questioned those claims. āWhen Tariffs cut in, many peopleās Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,ā he said Sunday on his Truth Social network. Trumpās tariff stances haveĀ roiled markets, led to fears of higher prices for Americans, prompted recession warnings and sparked bouts of concern about the USās haven status ā a fear that Treasury SecretaryĀ Scott BessentĀ questioned in a Sunday interview.
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UPDATE: President Trump wrote about the benefit of āTariff moneyā saying that Income taxes could be reduced or even eliminated š³š„.#TrumptaxCuts
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š¤UPDATE: MicroStrategy bought 15,355 $BTC ($1.42 billion) Did you get in early?š We could see $BTC at $100k this week, react if you think itās possible š„#Bitcoin
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Hello Friends . š„ JUST IN: U.S. Treasury Secretary, Scott Bessent, stated that India could be one of the first countries to sign a new trade deal with the US! This means India could avoid a 26% tariff set to take effect in July 2025. The deal is highly possible because India has low tariffs and few trade restrictions! Good news for Indiašš„....
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Hello Friends and My Followers . š NEWS: Read this . In India, crypto investors have been slapped with heavy taxes (30% on profits and 1% TDS on transactions), strict KYC requirements, and a lack of strong consumer protection! Unlike traditional finance, thereās no clear way to resolve issues with crypto exchanges, making investing riskier and raising concerns about overregulation. Please exercise extreme caution whilst carrying out Crypto related activities! Good day to you all for profitable trading.
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