Trump: Customs duties could lead to abolition of US income tax

US President Donald Trump said that the introduction of duties on imported goods could allow the country to completely abandon income tax in the future.

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US President Donald Trump said that the introduction of duties on imported goods could allow the country to completely abandon income tax in the future.

The statement of the American leader was made during his meeting with Republican governors. “We could abolish the income tax entirely. We may not need an income tax system at all when all this works, Trump said. From 1870 to 1913, tariffs were the main item of American income and turned the country into the richest country in the world. Earlier, Trump announced the introduction of new import duties on goods from China for a record $ 600 billion. The U.S. leader announced his intention to impose import duties on cars, semiconductors, pharmacological goods and wood in March.

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economy taxes newsfeed duty Donald Trump USA/America
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