Trump says 'there is a chance' tariff revenue could replace the income tax. Economists are skeptical

As investors face tariff uncertainty, President Donald Trump remains committed to the strategy — even suggesting tariff revenue could offset the federal income tax.

"There is a chance that the money from tariffs could be so great that it would replace" the income tax, Trump said in an interview with Fox earlier this month.

It's an idea that Trump floated during his presidential campaign last year in a meeting with Republican lawmakers. (Changes to the income tax would require...
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