The Coalition for a Prosperous America (CPA) today highlighted key findings from the Congressional Budget Office’s (CBO) preliminary report on tariffs, which confirms CPA’s analysis that tariffs can raise significant government revenue while benefiting U.S. industries. The CBO’s findings show that the proposed 10/60 tariff package—an additional 10% global tariff and a 60% tariff on imports from China—would cut deficits by $2.7 trillion over the next decade with minimal impact on consumer prices and economic growth.

“The CBO summary of its forecast shows that claims of negative consequences of broad-based tariffs are grossly overblown,” said Jeff Ferry, Chief Economist at CPA. “The CBO has not come all the way to our side, but it is nevertheless a partial confirmation of our view of the US economy. Broad-based tariffs will generate economic growth, create jobs, and raise household incomes, with only a very minor one-time increase in consumer prices. In today’s world, tariffs are an essential tool for the US economy.”

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