US President-elect Donald Trump on Thursday said that tariffs alone were responsible for creating vast wealth in the nation ...

President-elect Donald Trump’s tariff plans have reignited one of the most controversial economic debates. His proposal ...

He’s wrongly convinced they’re paid by foreign companies: tariff revenue is actually remitted to tax authorities by importers — and as the duties he imposed in his first term showed ...

In particular, Trump exaggerated the impact of tariff hikes during his first term, falsely claiming that "no other president took in 10 cents" of revenue from trade collections on Chinese imports.

Tariffs are taxes on imported goods that affect trade between countries. They are often used to protect local industries or raise revenue. Common targets for tariffs include agricultural products ...

Part of that effort has included getting Congress on board to consider a legislative approach to tariffs, which could provide a revenue source to pay for a plethora of expected new tax cuts.

On the social-media platform X on Thursday, the president-elect commented on a post from venture capitalist Marc Andreessen on tariffs as a share of federal revenue from the late 1700s to today.