Trump stated during a speech at the White House: “I ended eight wars, and among these eight wars, I ended five using tariffs.” The American president added that the issue of imposing tariffs received “tremendous support,” noting that it brought trillions of dollars to the U.S. Treasury and contributed to enhancing the national security of the United States.
Earlier, U.S. Treasury Secretary Scott Pessant stated that the tariffs imposed by Trump on the United States’ trade partners could bring the American economy between $300 billion and $600 billion annually.
Meanwhile, researchers from Yale University estimated that the tariffs could cost American households $2,400 annually, noting that even if consumers decided to purchase cheaper products, the losses would still be estimated at about $2,000.
