#TrumpTaxCuts Trump plans new tax cuts in an attempt to ease the burden of tariffs
US President Donald Trump said on Sunday that the broad tariffs he imposed could help him 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.
On Sunday, Trump said 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 to those earning less than $200,000 annually.”
In just a few weeks, the tariffs imposed by Trump have disrupted the global economy, raised concerns about rising prices for Americans, and sparked warnings that his policies could lead to an economic recession.
A poll conducted by CBS News and published on Sunday showed that 69% of Americans believe the Trump administration has not focused enough on lowering prices. The approval rating for Trump's handling of the economy in the poll dropped to 42% compared to 51% in early March.