Trump says there's a 'real chance' tariffs could replace income tax
Trump's tariffs have been met with pushback from both sides of the political aisle
A)
President Donald Trump said in an interview airing Tuesday with Fox News' Rachel Campos-Duffy that there was a "real chance" tariffs could replace income tax.
"There's a real chance," Trump said. "There is a chance that the money from tariffs could be so great that it would replace. You know, in the old days, from about 1870 to 1913, the tariffs were the only form of money. And that's when our nation was relatively the richest. We were the richest."
The president said during the interview that a committee was formed in the 1880s to "get rid of money."
"And this committee's sole purpose was how to dispose of it, who to give it to, what do we do? And then, brilliantly, in 1913, they went to the income tax system. Then, around 1931 or 1932, they tried to bring back tariffs, but it was too late," the president told Campos-Duffy. "And they loved to blame tariffs for the Great Depression. But the Great Depression came before they put the tariffs on."
B)
DONALD TRUMP'S ALLIES, SUPPORTERS AND DONORS, LED BY ELON MUSK, PUSH TO END the TARIFF WAR
The president was also asked about how much money the country was making from the tariffs.
"Billions and billions of dollars and hundreds of billions of dollars over a year. Before I gave it a little pause to lower it a bit, because, you know, it's a transition; you have to have a little flexibility. But we were making two billion and three billion dollars a day. We never made money like that," the president said.
The president also said during the interview that he is open to sending violent American criminals to El Salvador prisons.
"He's made it a very safe place," Trump said of El Salvador President Nayib Bukele, whom he welcomed to the White House on Monday. "People go, and they feel very secure and safe. He's also built other prisons. Huge ones, and we're using his system because we're getting rid of our criminals from out of the United States that were allowed to come in by Biden."
C)
When asked by Duffy if the prison could be used for "our violent criminals," Trump replied that it was possible, saying it could be implemented for what he referred to as "homegrown" offenders.
The full interview with Trump will air Tuesday afternoon on Fox Noticias at 4 p.m. ET.
Trump put a 90-day pause on reciprocal, customised tariffs he had imposed on dozens of nations on Wednesday, which was an abrupt change of course after saying there would be no pause, just negotiations. Simultaneously, the Trump administration increased the tariff on China to 125%.
The administration, including Trump, is engaging in negotiations with foreign nations to strike deals that benefit the U.S. and reduce the country's chronic trade deficit, according to officials. The tariffs have roiled markets and triggered concerns of a possible recession.
Trump says there's a 'real chance' tariffs could replace income tax
Trump's tariffs have been met with pushback from both sides of the political aisle
https://www.foxnews.com/media/trump-says-theres-real-chance-tariffs-could-replace-income-tax
Trump suggests tariffs could replace income tax: 'There's a chance'
https://www.youtube.com/watch?v=6tBiXMMTdrM
With Japan unable to cut taxes, Trump finally announces the abolition of income tax
https://www.youtube.com/watch?v=H3O1R24kee4
Trump: "We should be taxed as a political organisation", after Harvard University rejected his request
https://www.cnn.co.jp/usa/35231845.html
