Trump suggests tariffs could end income tax in the US. Is this possible?
US President Trump, in a Fox News interview, has said that the money from tariffs might be enough to do away with the need for income tax. ‘There is a chance that the money is so great that it could replace income tax,’ Trump said. He was referring to the period in the late 1800s when tariffs were the primary source of income for the US government. But is this really possible? What do experts say?
Explainers