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WASHINGTON (Reuters) – President Donald Trump laid out some of his fiscal priorities on Monday, defending his planned 10% flat tariff and saying the resulting rise in prices for families would be covered by tax cuts. He called for the 2017 tax cuts to achieve the following goals: It will be extended.
In an interview with CNBC, the Republican US presidential candidate also called for action, including cuts to popular US rights programs, and suggested he was unlikely to curb the use of cryptocurrencies.
Asked about concerns about growing political polarization over the nation’s financial stability, President Trump said he was concerned about a Fitch rating downgrade in 2023, but the downgrade and Jan. denied any connection with the riots.
Trump’s comments were his first on his economic plans since he became the party’s leading candidate following last week’s “Super Tuesday” primaries and set up a rematch with Democratic President Joe Biden in November. This will be a wide-ranging statement.
His tariff plan has fueled talk of inflation, with Treasury Secretary Janet Yellen saying it would increase costs for American consumers.
President Trump told CNBC: “I think it’s possible to cut taxes, and I think it’s possible to do more than just adjust them. But I’m a big believer in tariffs.” He said it would help if the industry was being “taken advantage of”. China and other countries.
“Beyond the economy, it gives us power in our dealings with other countries,” he said, adding that he was not concerned about the possibility of retaliatory tariffs if he retakes the White House.
Asked about Medicare, Social Security, the Medicare program, national spending and deficits, President Trump told CNBC, “There’s a lot that can be done in terms of cutting back on entitlements and in terms of theft and mismanagement.” Ta.
President Trump said of Bitcoin and other virtual currencies, “We’ve seen a lot of use over the years, and I don’t want to take that away.”
(Reporting by Susan Heavey; Editing by Bernadette Baum and Chizu Nomiyama)
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