Key Takeaways President Donald Trump's tariffs will bring in more than enough money to pay for the Republicans' tax cut bill, the Congressional Budget Office found.The analysis assumes tariffs will remain as they were on May 13,

WASHINGTON (AP) — President Donald Trump’s sweeping tariff plan would cut deficits by $2.8 trillion over a 10-year period while shrinking the economy, raising the inflation rate and reducing the purchasing power of households overall, according to an analysis released Wednesday by the Congressional Budget Office.

U.S. economic output will fall as a result of President Donald Trump's new tariffs on foreign goods that were in place as of May 13, while also reducing federal budget deficits by $2.8 trillion over a decade,