Trump Tariffs Projected to Cut Deficit by $4 Trillion.

WHAT HAPPENED: The Congressional Budget Office (CBO) projected that tariffs implemented by President Donald J. Trump could reduce total deficits by $4 trillion over the next decade.
WHO WAS INVOLVED: President Trump and the Congressional Budget Office (CBO).
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WHEN & WHERE: The updated projections were released by the CBO on Friday.
KEY QUOTE: CBO Director Phillip Swagel wrote: “If there are no further changes in tariff rates, we project that customs duties from new and existing tariffs will total about $200 billion this fiscal year.”
IMPACT: The analysis suggests that maintaining Trump’s tariffs would reduce federal borrowing and interest costs, leading to significant deficit reductions.
IN FULL
A new Congressional Budget Office (CBO) analysis projects that President Donald J. Trump’s tariff policies could slash federal deficits by $4 trillion over the next decade …