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New tariffs could raise nearly $1 trillion over a decade
- Proposed tariffs on imports from 60 economies could raise nearly $970 billion over the next decade, according to the Committee for a Responsible Federal Budget.
- The tariffs, proposed under Section 301 of the Trade Act of 1974, represent the broadest use of that authority and are the Trump administration's largest tariff revenue effort after a Supreme Court ruling.
- Net revenue from the new Section 301 tariffs is estimated at about $970 billion after a $10 billion reduction related to steel, aluminum, and copper tariffs.
- Including existing tariffs, the administration is projected to collect $1.9 trillion in tariff revenue through fiscal year 2036, down from $2.7 trillion before the Supreme Court's ruling.
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InsideNoVA.com+45 Reposted by 45 other sources
New tariffs could raise nearly $1 trillion over a decade
(The Center Square) – Proposed tariffs on imports from 60 economies could raise nearly $970 billion over the next decade, according to estimates released Monday by the Committee for a Responsible Federal Budget.
Coverage Details
Total News Sources46
Leaning Left2Leaning Right14Center13Last UpdatedBias Distribution48% Right
Bias Distribution
- 48% of the sources lean Right
48% Right
C 45%
R 48%
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