#TrumpTaxCuts

The wide-ranging tariffs imposed may help reduce income taxes for individuals earning less than $200,000 annually, amid growing public concern about his economic agenda.

Trump had previously argued that tariff revenues could replace income taxes, although economists have questioned these claims, according to Bloomberg.

Trump said on Sunday on his social network 'Truth Social': 'When the tariffs come into effect, income taxes for many people will be significantly reduced, and they may even be eliminated altogether. The focus will shift towards individuals earning less than $200,000 annually.'