US Tariff Changes Could Raise Deficit by $1.1 Trillion, CBO Chief Says
Workers unload from a freight ship in the dockyard at the Port of Detroit.
Photographer: Matthew Hatcher/BloombergRecent shifts in US tariff policy may add $1.1 trillion to federal budget deficits over a 10-year period, though exact calculations aren’t yet possible, according to the director of the nonpartisan Congressional Budget Office.
“We haven’t gotten to a point at which we’re comfortable making that kind of long term” estimate, CBO Director Phillip Swagel said in an interview with Bloomberg Television Monday.