BofA update shows where active managers are putting money
Investing.com -- President Donald Trump is considering using revenue from new tariffs to fund a tax rebate or dividend for Americans, according to a report from the Washington Post.
Citing people familiar with the matter, the report states the proposal is still in early discussions as the administration prepares to unveil a major tariff plan.
White House aides are said to have drafted a proposal imposing tariffs of around 20% on most imports, the Post reported.
The administration estimates that these tariffs, combined with additional duties on specific sectors like automobiles and pharmaceuticals, could generate more than $6 trillion in federal revenue.
Some officials have reportedly proposed redirecting part of these funds toward a tax refund or direct payments to Americans. However, planning for such a measure remains preliminary, said the Washington Post.
Trump has pushed for broad, universal tariffs, though he has also indicated openness to a country-specific approach.
“Whatever they charge us, we’ll charge them,” he said Monday. The Post noted that the White House is still weighing multiple options, with no final decision made.
The proposed tariffs have sparked economic concerns. The report notes that Mark Zandi, chief economist for Moody’s, said that if the tariffs trigger retaliation from U.S. trading partners, the economy could enter a year-long recession, pushing unemployment above 7%.
The White House, however, has dismissed such warnings, arguing that similar concerns about past tariffs proved unfounded.
Trump is set to announce tariff plans on Wednesday in a Rose Garden ceremony, which he has dubbed "Liberation Day."