U.S. President Donald Trump signed an executive order that established rewards tariffs on trading partners and a 10% baseline tariff in all imports from all countries.
Rewards that Levies will be about half of what trading partners charge for US imports, Trump said. For example, China currently has a tariff of 67% in US imports, so US rewards tariffs on Chinese goods will be 34%. Trump also announced a standard 25% tariff on all vehicle imports.
Trump told the media that tariffs will return the country to the economic development that has been seen in recent centuries:
“From 1789 to 1913, we were a back-tyff country.
“Then, in 1913, for reasons that mankind did not know, they established the income tax so that citizens, rather than foreign countries, would begin to pay,” Trump said.
Full destruction of the country’s reward tariffs. Source: Cointelegraph
Trump presented tariffs through the lens of economic protection and that -Hint in return to economic policies in the 19th century by Using them to replace income tax.
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Trump recommends removing the federal income tax and changing it with tariff income
Trump recommends the idea of eradicating the Internal Revenue Service (IRS) and funding the federal government exclusively through trade tariffs while still on the path of the October 2024 campaign.
According to the Dancing of the Accounting Automation Company Numbers, Trump’s plan may be Save every American taxpayer $ 134,809- $ 325,561 on taxes throughout their lives.
US president Donald Trump discussed the media about trade trade tariffs in the event of the April 2. Source: Source: Fox 4 Dallas
The higher incidence of tax estimation will only occur if other wage -based taxes are removed at the state and municipal level.
Secretary of Commerce Howard Lutnick, which ASSISTED OFFICE IN FEBRUARYDin pronounced Support replacing IRS with “External Income Service.”
Lutnick said the US government cannot balance a budget but continues to demand more from its citizens every year. Tariffs also protect American workers and strengthen the US economy, he said.
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