• Trump claims tariffs could lead to substantial income tax reductions for lower earners.
• Public opinion shows rising anxiety regarding Trump's economic policies.
• Economists express skepticism about the feasibility of replacing income taxes with tariff revenue.

President Donald Trump has proposed that revenue from his sweeping tariffs could allow for substantial income tax cuts for Americans making less than $200,000 a year. In a recent post on Truth Social, he stated, “When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated,” asserting that “massive numbers of jobs are already being created” as a result of these tariffs, which he labeled a "BONANZA FOR AMERICA!!!" according to Forbes, Bloomberg, and HuffPost.

Despite Trump's optimistic forecast, many economists have raised concerns regarding the actual capability of tariff revenues to replace or significantly reduce income taxes. They point to the improbability of generating sufficient revenue under current tariff rates. Trump's administration recently paused several tariffs while continuing negotiations, but stated that various tariffs on goods from nations like China and Mexico remain effective, potentially disrupting markets and raising consumer prices, as noted in reports from South China Morning Post and The Hill.

Public sentiment has been increasingly critical of Trump’s approach to tariffs and economic management, with polls indicating that a significant majority believe these policies could drive up consumer goods prices. Approval of Trump's economic policies has dropped, reflecting growing anxiety as many Americans disapprove of his handling of the inflationary impacts tied to tariffs, according to India Times and HuffPost.