Part 3/8:
The core of Trump’s proposal revolves around utilizing tariffs as a replacement for the income tax, reducing government spending while increasing revenue from foreign countries. The argument is that, strategically imposed tariffs on international goods could generate the needed funds, paralleling how the U.S. collected substantial revenue prior to the introduction of income taxes. Trump highlights the potential of using tariffs to enforce economic leverage over other nations, particularly those relying heavily on exports to the U.S.