White House aide Peter Navarro claimed Sunday that President Donald Trump’s new tariffs would raise more than $6 trillion in federal revenue over the next decade, a figure that experts said would almost certainly represent the largest peacetime tax hike in modern US history, Report informs via The Washington Post.
Appearing on Fox News, Navarro said the president’s tariffs on auto imports, set to take effect Wednesday, would raise $100 billion per year.
Meanwhile, a regime of additional tariffs — details of which have yet to be released — would raise another $600 billion per year, or $6 trillion over the next decade, Navarro said.
Navarro’s remarks suggest Trump is preparing dramatic new measures for Wednesday, which the president has referred to as “Liberation Day.”
Navarro is among the most hawkish voices on trade in the president’s inner circle, and it was not immediately clear whether he was previewing official administration policy or speaking for one side of an internal debate over the tariffs.
