Some rough guestimations on the effectiveness of trump's tariffs and the reason why tariffs alone will never be an alternative to taxation.
#USA
@andersaslund.bsky.socialTrump's tariffs can't replace income tax.
In 2024 US federal revenues were $4.9tn (17% of GDP).
US imports of goods were $3.3tn. Trump's tariff of 10% would give $330bn.
But US GDP was almost $29 tn, so Trump's tariffs could yield 1.1% of GDP!
Call Trump out on his gross lies & ignorance!