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Trump claims tariffs are key to restoring America's wealth and paying off debt

share-iconThursday, January 02 comment-icon2 weeks ago 9 views
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indiatimesINDIATIMES
Trump claims tariffs are key to restoring America's wealth and paying off debt

Credited from: INDIATIMES

  • Donald Trump, the US President-elect, emphasized that tariffs historically contributed to America's wealth during the Second Industrial Revolution.
  • He referred to a chart by Marc Andreessen that illustrates tariff revenue's significance from 1798 to 2023.
  • Trump noted that the transition from tariffs to income tax diminished the nation's wealth.
  • He plans to reinstate broad tariffs on imports from Canada, Mexico, and China as soon as he takes office.
  • Trump also issued warnings to BRICS nations regarding potential tariffs if they attempt to challenge the US dollar.

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