CBO: Tariffs Will Reduce Deficit By $4 Trillion By 2035 – Trump Responds

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The CBO is now projecting that tariffs will reduce the deficit by $4 trillion over the next 10 years.

This is $1 trillion more than what was projected in June.

Axios reported:

By the numbers: CBO director Phillip Swagel, in a blog post, said tariff revenue would reduce primary deficits by $3.3 trillion, and cut the need for interest payments on borrowings by $700 billion, for a total $4 trillion reduction through 2035.

In June, the CBO projected a total reduction of $3 trillion over the next 10 years; the scope and scale of tariffs have only increased since then.

The big picture: Tariffs have generated so

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