Trump Proposes Major Tax Overhaul Through Tariffs President Trump is defending his tariff strategy as a replacement for the current income tax system, claiming foreign countries will bear the financial burden. In his State of the Union address, he argued that tariffs would substantially reduce the tax load on Americans. This proposal comes days after the Supreme Court ruled 6-3 against his previous tariff measures, determining that Congress holds primary authority over taxation. Despite the setback, Trump signed an executive order implementing a 15 percent global tariff under Section 122 of the Trade Act of 1974. The administration plans to introduce additional legally compliant tariffs in coming months.
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