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Taxes & Budget

Coverage of the national budget and your taxes.

A crane unloads a container at the Uiwang ICD Terminal in Uiwang, South Korea, Thursday, March 12, 2026. (AP Photo/Ahn Young-joon)

Trump seeks to close $1.6 trillion revenue gap with raft of new tariffs

- Associated Press

The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes.