Summary
President Trump discussed the idea of using tariffs instead of income taxes during his State of the Union speech. Despite the Supreme Court blocking his earlier tariff efforts, he announced new tariffs that would begin at 10% and could eventually rise to 15%.
Key Facts
- President Trump spoke about replacing income taxes with tariffs in his State of the Union address.
- The Supreme Court blocked Trump's earlier attempt to impose large tariffs.
- Trump announced new global tariffs starting at 10% and potentially increasing to 15%.
- These tariffs, or import taxes, are paid by countries selling goods to the U.S.
- The speech follows a year of significant policy changes, including deregulation and executive actions.
- Trump mentioned the potential for tariffs to lessen the financial burden on Americans.
