Former US president Donald Trump’s tariff plans, including additional duties on Chinese imports, could offset US$2.7 trillion of American debt in the next decade but could also trigger revenue loss with “geopolitical repercussions”, a study has found.
Trump’s fiscal proposals could add twice as much to the national debt compared to plans under US Vice-President Kamala Harris, according to a report by the Committee for a Responsible Federal Budget, a Washington-based non-profit group, on Monday.
Policies under the Republican standard-bearer, who has proposed further tax cuts for corporations and replacing individual income tax with tariffs, could add to the US budget deficit by up to US$15.15 trillion compared to US$8.1 trillion under his Democratic opponent’s plans, the non-partisan group said.
Trump has long advocated the idea of imposing high tariffs on US imports, arguing they could create jobs domestically and shrink the…
