The Congressional Budget Office is out with new estimates around the President’s tariff plan.
They now say tariffs will reduce the deficit by more than $2 trillion, but the new report comes with a catch. The Office says those savings will be negated by the cost of the President’s “Big, Beautiful Bill,” which is currently in the hands of the Senate. CBO estimates now show that tariffs will save the U.S. around $2.5 trillion over the next decade, along with shrinking the size of the U.S. economy.
The overall tariff rate right now on most countries stand between 10 and 15 percent.
