Trump bets on tariffs to reduce taxes and warns of economic repercussions

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Trump bets on tariffs to reduce taxes and warns of economic repercussions

Image by Imad Al-SaidiImad Al-Saidi sent an email an hour ago

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In new statements, U.S. President Donald Trump said on Sunday that the broad tariffs he imposed could allow him to reduce income taxes for individuals earning less than $200,000 annually, amid growing public concern about his economic agenda.

Trump had previously stated that tariff revenues could replace income taxes, despite some economists questioning the validity of those claims.

Trump said on his “Truth Social” page: “When the tariffs begin to take effect, income taxes will be significantly reduced for many people, and they may even be eliminated entirely. The focus will be on individuals earning less than $200,000 annually.”

The implementation of tariffs has raised significant concerns about their impact on the global economy, as many experts have warned that these policies could lead to rising prices and a slowdown in economic growth, raising fears of a potential recession.