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Will the US implement new tariffs on foreign nations by mid-2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the US government and trade policy updates
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Trump Urges Congress to Abolish Income Tax, Proposes Tariffs on Foreign Nations to Enrich Citizens
Jan 27, 2025, 11:33 PM
President Donald Trump has called on Congress to abolish the federal income tax, suggesting a return to a taxation system that relies on tariffs on foreign nations to benefit American citizens. In a recent statement, Trump said, "It's time for the United States to return to the system that made us richer and more powerful than ever before... Instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens." He cited former Presidents William McKinley and Theodore Roosevelt in his remarks, advocating for policies that prioritize American economic interests through tariffs.
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