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US tariff policy: revival of production and tax benefits

April, 29 2025
watermark Economic news

At a briefing at the White House, US Treasury Secretary Scott Pool and Press Secretary Carolyn Levitt discussed fiscal policy, trade deals and the tax bill. Revenue from tariffs can be used for tax benefits, in particular for tax exemption on tips, social security and overtime.


Officials believe that tariffs can revive American manufacturing and generate significant revenue. The minister explained that China's current tariff policy is unstable and could lead to the loss of up to 10 million jobs.


As for car tariffs, the minister announced Donald Trump's intention to return automotive production to the United States. The benefits of car tariffs are expected to contribute significantly to these efforts.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.