Will Trump's tariffs lead to more revenue to cover tax cuts?

The head of the World Trade Organization warned a steep decline in global trade volume is coming due to President Trump's sweeping tariffs, but the president promises his policies will lead to a boon for U.S. manufacturing and increased revenue. Scott Lincicome, vice president of the Cato Institute's Trade Policy Center joins to discuss.

"CBS Evening News" delivers the day's most important stories, delivering context and depth to bring greater understanding to your world. Check local listings for "CBS Evening News" broadcast times.

[cmdkaboom]

Nope...Trump is using Forest Gump economics...😂

[chrisaycock]

Tariffs are dependent on consumers to buy those goods and in turn fund those extra taxes.. people are already stretched super thin it's unlikely to do anything but push us into a recession. Companies will put in less orders or hold goods in the origin country till tariffs come down..

[carol-cr]

Simple answer - NO. Plus, they are wasting more than they are getting.

[rick-yo]

US will lose sales and income tax revenue from lack of purchases on tariffed goods, decline in sales due to inflation and fear of a recession, decline in investments due to uncertainty, boycotts on travel and US goods sold abroad.

[MrTom-klhy]

The convoluted semantics used to deny the fact that tariffs are a tax on the consumer are mind numbing. The GOP in Congress will brag about their "tax reduction", while giving the president sole power to raise federal tariff/tax, and even the power to use exemptions as a patronage payoff. All this because we refuse to find a way to collect fair contributions and payback from those who benefit the most from this economy. When I was young, only two nations on earth could afford space programs, America now has two individuals who own private space programs!

[falvegas]

Sorry; we Citizens are Looking For Precisely: WHAT % TAX/TARIFF -INCOME WILL GO TO "PAYING DOWN" $35 TRILLION IN ALARMING FED DEBT?