Laing sees tariff engineering as a way not only to lower import taxes, but also to drive innovation. He cited luggage as an ...

Will Trump's tariffs lead to more revenue to cover tax cuts? 03:07 President Trump describes his administration's sweeping new tariffs on other countries as a tool for accomplishing a range of key ...

Tariffs become a tax to the consumer because as costs rise so will prices. It is importantly a regressive tax, because adding $6,000 or $7,000 to the average household’s cost of living ...

The debate over tariffs' nature has gained prominence in U.S. fiscal and trade policy, especially under former President Donald Trump's influence. While Trump and his allies defend them as a powerful ...

President Donald Trump says "there's a real chance" tariff revenue can replace the income tax. Economists say a full replacement isn't likely.

The federal government collected $68.9 billion in tariffs and excise taxes during the first five months of the year, according to Treasury Department data collected by the Bipartisan Policy Center.

If the IMF is right in lowering its 2025 growth forecast from 2.7 percent in January to 1.8% this week, based on Trump’s tariff orders, we calculate that income-tax receipts from corporations ...

Treasury Secretary Scott Bessent insisted Thursday that tariff are not taxes, defying the widely accepted economic and financial definition of President Trump’s top trade tool. In an ...

Canada has slapped 25% tariffs on more than $40 billion in U.S. exports. If the trade war escalates, Mr. Trump’s tariffs could reduce U.S. exports as much as they do imports.

Moreover, the revenue from a 15% tariff tax would shrink to $150 billion if foreign countries retaliated by imposing tariffs on U.S. exports. The negative revenue offsets are even higher if Trump ...

JPMorgan is even calling the new tariff regime the biggest tax hike since 1968, assuming that the overall U.S. tariff rate will increase to 22% in 2025, while the Tax Foundation assumes 18.8%.

Can tariffs replace income taxes? Consumers face an overall average effective tariff rate of 28%, the highest since 1901, according to the Yale Budget Lab. Estimates for how much money these ...