How much is Trump's potentially biggest tax hike in history expected to generate for US?
A cargo ship full of shipping containers is seen at the port of Oakland, as trade tensions escalate over U.S. tariffs, in Oakland, California, U.S., March 6, 2025. Photo by Reuters
President Donald Trump’s tariffs could raise revenue amounting to three times the size of the 1942 tax hike used to finance World War II, potentially making it the largest tax increase in U.S. history, according to White House aide Peter Navarro.
