US tariffs to cut deficits by $3 trn if maintained till 2025: CBO
President Donald Trump’s raised tariffs on imports will reduce US deficits by $3 trillion if these continue till 2035, the non-partisan Congressional Budget Office (CBO) recently estimated, instead of the $4 trillion it projected in August.
Primary deficits would be reduced by $2.5 trillion over 11 years, with government borrowing costs falling by around $500 billion as a result, CBO said.
