U.S. Treasury's Tariff Revenue Surge: A Debt-Reducing Strategy
U.S. Treasury Secretary Scott Bessent anticipates a notable increase in tariff revenues beyond the original $300 billion forecast, aimed at reducing the U.S. federal debt. Speaking on CNBC, he emphasized a strong focus alongside President Trump on debt reduction, suggesting an upward revision in revenue projections.
Devdiscourse News Desk | Washington DC | Updated: 19-08-2025 17:38 IST | Created: 19-08-2025 17:38 IST
- Country:
- United States
U.S. Treasury Secretary Scott Bessent is projecting a significant rise in tariff revenues from the previous $300 billion estimate this year. The additional funds are intended to contribute towards diminishing the vast federal debt, he revealed during a CNBC interview.
Bessent refrained from specifying the revised revenue forecast but highlighted that both he and President Donald Trump are intensely concentrating on curtailing the national debt.
'I've been saying that tariff revenue might hit $300 billion this year. I'm about to revise that estimate significantly,' Bessent stated.
(With inputs from agencies.)
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