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.

The CBO analysis says Trump's tariffs over the next decade would reduce deficits by $2.8 trillion while also curbing economic growth by 0.6 percent.

President Donald Trump forecasted the death of the U.S. economy if America were prevented from deploying counter tariffs against other countries. A court battle is underway regarding Trump’s “Liberation Day” tariffs after the U.

President Donald Trump has said that if the U.S. is not allowed to implement tariffs, it "doesn't have, even a small chance, of economic survival."

President Donald Trump forecasted the death of the U.S. economy if America were prevented from deploying counter tariffs against other countries. A court battle is underway regarding Trump’s “Liberation Day” tariffs after the U.