On Sunday, President Trump announced a new income tax cut as a means to mitigate the impact of the comprehensive tariffs that polls show Americans increasingly believe will lead to higher prices.

Trump wrote in a post on his "Truth Social" platform on Sunday: "When tariffs are reduced, income taxes for many people will be significantly lowered, and maybe even completely eliminated."

He added that "the focus will be on individuals earning less than $200,000 annually."

In his post, Trump defended the strategy with which he imposed hefty tariffs, asserting that "huge numbers of jobs are already being created, with new factories and plants being built or planned. It will be a treasure trove for America!!! The foreign tax revenue is thriving!!!"

These comments reflect previous suggestions by the president regarding the possibility of completely abolishing the federal income tax and replacing it with tariffs or other taxes. Some economists have raised questions about the feasibility of generating sufficient revenue through tariffs.