WASHINGTON/WHITE HOUSE - President Donald J. Trump's tariffs will reduce overall deficits by $4 trillion over the next decade, according to a new analysis by the Congressional Budget Office (CBO).
From The Washington Examiner:
"The Congressional Budget Office (CBO) predicts that if President Donald Trump's tariff agenda is maintained, it will reduce overall deficits by up to $4 trillion over the next decade. The CBO, an impartial evaluator of Congress, released updated forecasts on Friday. The CBO found that the effective tariff rate on goods imported into the United States increased by a remarkable 18 percentage points from a year ago.
If that stance is maintained over the next 10 years, primary deficits would fall by $3.3 trillion, the CBO said. Tariff revenues would also minimize the need for federal borrowing and lead to $700 billion less in interest spending, reducing overall deficits by $4 trillion.
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