US revenue from import tariffs over a 10-year period will amount to approximately $6 trillion, predicts US President Donald Trump's senior advisor on trade and manufacturing, Peter Navarro.
“Tariffs will bring in about $600 billion a year, which is about $6 trillion over a 10-year period“, he said in an interview with Fox News.
The United States expects to receive nearly $100 billion from tariffs on the auto industry alone. The Trump administration intends to introduce tax breaks for those who buy American cars.
On March 6, Trump signed executive orders to postpone until April 2 the imposition of 25 percent import tariffs on goods from Canada and Mexico that fall under the trilateral trade agreement. He warned that there would be no further easing after that date.