Trump touts tariffs as a budget fix. But the brutal truth is 'they're very weak' and barely dent the $39 trillion national debt | Fortune

"As a revenue tool, they're very weak. They do raise some revenue, but just not enough to really move the needle one way or the other. Kyle Pomerleau, an international tax policy expert and senior fellow at the American Enterprise Institute, explains that tariffs generate insufficient revenue to meaningfully impact federal finances or address budget shortfalls."

"With the debt on track to hit a record $39 trillion, the revenue coming in from tariffs today are barely scratching the surface. Treasury Secretary Scott Bessent said the Trump Administration ultimately aims to fully replace the full revenue lost from the International Emergency Economic Powers Act tariffs that the Supreme Court struck down last month."

"President Trump said last year tariffs are helping to slash the deficit this year by more than 25%. But with a tariff strategy that failed to tackle the deficit then, and is more hamstrung now, that's far from the reality. A new analysis from the Committee for a Responsible Federal Budget finds the Supreme Court's ruling will reduce federal revenue by $1.7 trillion through fiscal year 2036."

President Trump views tariffs as a solution to major financial problems, including replacing income tax and reducing the federal deficit. However, experts argue tariffs are weak revenue generators that fail to produce meaningful fiscal impact. Kyle Pomerleau, an international tax policy expert, states tariffs raise minimal revenue insufficient to significantly affect budget outcomes. With the national debt approaching $39 trillion, current tariff revenue barely makes a dent. Treasury Secretary Scott Bessent aims to replace revenue lost from struck-down IEEPA tariffs, but both new 10% tariffs under Section 122 and previous levies fall short of meaningfully addressing the deficit. Trump's previous claims that tariffs reduced the deficit by 25% contradict current reality, as the Committee for a Responsible Federal Budget estimates the Supreme Court's ruling against IEEPA tariffs will reduce federal revenue by $1.7 trillion through 2036.

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