Trump's Tariffs: Risky Plan to Fund Tax Cuts | JQJO

Trump's 'One Big Beautiful Bill' tax cuts would increase the federal deficit by $2.4 trillion over a decade, but proposed tariffs aim to offset this by generating $2.5 trillion in revenue. However, experts warn that using tariffs to finance the government is risky and economically damaging. Tariffs are an unstable revenue source, vulnerable to legal challenges and potentially causing retaliatory measures from other countries. Economists argue they harm the economy, raise consumer prices, and disproportionately affect low-income households, ultimately negating the tax cut benefits and causing significant economic harm.