Trump tariffs would shrink the federal deficit, but also the economy, CBO says

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• President-elect Donald Trump has vowed across-the-board tariffs on a scale that hasn't happened in the U.S. in more than 50 years. The Congressional Budget Office recently estimated that such tariffs would shrink the budget deficit, but also reduce economic output.

Donald Trump made tariffs a centerpiece of is successful presidential campaign, and the Congressional Budget Office recently estimated they could shrink the budget deficit—as well as the economy in the process.