#TrumpTariffs President Trump has announced plans to impose additional tariffs on countries that tax US exports, while also pushing for significant tax cuts in the US. Recently, he signed the "One Big Beautiful Bill" into law, which delivers the largest middle-class tax cuts in US history. This bill aims to boost domestic growth and investor confidence.

> Key Points of the Tax Cut Bill:

1 - Largest Tax Cut in History: The bill provides substantial tax cuts for working and middle-class families, including eliminating income taxes on tips for around 4 million tipped workers and removing taxes on overtime pay for over 80 million workers.

2 - Corporate Tax Rate Cut: Corporations now face a flat 15% tax rate, down from 21%, aimed at boosting domestic investment.

3 - Simplified Tax Filing: The standard deduction has nearly doubled, with single filers now having a standard deduction of $28,000 and married couples filing jointly having $56,000.

4 - Capital Gains Tax Freeze: Capital gains rates remain unchanged, but the threshold for the 20% rate has increased to $500,000.

> Potential Impact:

-> Stronger Domestic Growth: The combination of tax cuts and new trade measures could lead to stronger domestic growth and increased investor confidence.

-> Global Trade Uncertainty: However, the imposition of tariffs may introduce global trade uncertainty and inflationary risks.

-> Increased Deficit Spending: Critics warn that the tax cuts could increase the national deficit by $1.2 trillion over 10 years and exacerbate wealth inequality.