President Donald Trump has reactivated his economic agenda with a bold proposal: significantly reduce taxes while increasing tariffs on imports. This approach aims to stimulate domestic production and fund tax cuts, but has raised concerns about its impact on the U.S. and global economy.

Trump proposes to decrease the corporate tax rate from 21% to 15% for companies that manufacture in the United States. Additionally, he plans to extend the tax reductions from the Tax Cuts and Jobs Act (TCJA) of 2017, which expire in 2025, benefiting various income levels.

To compensate for the loss of tax revenue, Trump suggests imposing tariffs of 10% to 20% on all imports and up to 60% on Chinese products. Although these tariffs could generate additional revenue, experts warn that they could increase consumer prices and negatively affect low-income households.#TrumpTaxCuts