#TrumpTaxCuts This means that American President Trump wants to reduce or eliminate the federal tax as soon as the new tariffs come into effect, in order to use the expected revenues from these new tariffs to fund significant tariff reductions, especially for low-income individuals, that is, those with an income below $200,000, with a possibility of eliminating them for this category.

These tariff increases will offset the losses resulting from this tax reduction, which will allow for a slight departure from reliance on traditionally applied taxes.