The US President Donald Trump has said that imposing tariffs will reduce the income tax of a large number of Americans. Trump on Saturday claimed in a post on his social media platform ‘Truth Social’ that due to the tariff, the income tax of the people could be reduced considerably and in some cases it can also be completely abolished.
Trump said that this relief will be mainly given to those whose annual income is less than $ 2 lakh. He wrote, “When the effect of the tariff is seen, the income tax of many people will be reduced to a great extent, some can also be completely eliminated. Our focus will be on those who earn less than 2 million dollars annually.”
Along with this, Trump also said that companies are rapidly building new factories and are also planning, causing a large number of jobs.
Also read: India will be the first country to deal with America
Claims on Donald Trump’s tariff
Donald Trump has been constantly claiming that the tariff he implemented will benefit the American economy. According to him, tariffs will reduce imports and companies will set up construction units in the US, which will create thousands of new jobs and strengthen the country’s economy.
Trump had announced a tariff on several countries around the world on 2 April. Under this, a fee of 10 percent has been imposed on almost all the products coming in the US. A heavy duty of 26 percent has been imposed on products coming from India and 145 percent on products coming from China.
US President Donald Trump recently said in an interview to Time magazine that if 50 per cent of the tariff (tariff) is applicable on foreign imports after one year, it would be a ‘total win’ for the US.
When Trump was asked why he consider it a victory, he said that countries like China and India have also made themselves rich by putting tariffs on America. Trump said, “Because this will make America a tremendous earning.”
Let us know that at present, dozens of countries have been given a 90 -day deadline to make a new agreement with the US. This deadline will end in July. If there is no agreement in the fixed deadline, then these countries can be levied more according to the country and more.
First Published – April 28, 2025 | 8:51 AM IST
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