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Trump seeks to close $1.6 trillion revenue gap with raft of new tariffs
Two Section 301 probes target subsidies and forced labor in 16 economies to regain $1.6 trillion lost after the Supreme Court struck down emergency tariffs.
- The Trump administration launched two Section 301 investigations this week, aiming to recover about $1.6 trillion in lost tariff revenue, U.S. Trade Representative Jamieson Greer said.
- The White House argued that recent tax cuts would add $4.7 trillion to the debt, with tariffs projected to offset about $3 trillion, according to the Congressional Budget Office.
- Greer said the first probe covers 16 economies, including the EU, China, South Korea, and Japan, under Section 301, with hearings on April 28 and May 5.
- The administration is aiming to complete the Section 301 probes before the 10% tariff expires, while some two dozen states have sued and analysts say revenue clarity could take months.
44 Articles
44 Articles
Trump seeks to close US$1.6 trillion revenue gap with raft of new tariffs
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
Trump seeks new tariffs after Supreme Court wipes out $1.6 trillion revenue plan
After the Supreme Court struck down key import taxes, the Trump administration is launching sweeping trade investigations and new tariff plans to recover an estimated $1.6 trillion in lost revenue.
Associated Press News
Trump seeks to close $1.6 trillion revenue gap with raft of new tariffs
The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes.
9NEWS Denver
White House steps up ambitious effort to close $1.6 trillion revenue gap with raft of new tariffs
The Trump administration stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue. Experts say it's possible but will be challenging.
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