'Trump's promise that foreign companies would pay. . .turned out to be false': Economist on tariffs

Video Description

President Donald Trump is making sure to share – repeatedly – a recent government analysis that shows his sweeping array of tariffs is expected to reduce the federal debt by $4 trillion over the next decade, more than forecast only a few months ago. However, how much revenue the US actually realizes depends on several important factors, including whether the current levies remain in place into 2035 and how the nation reacts to the higher tariffs. The tariffs are expected to increase inflation and potentially weaken the economy, which could in turn reduce federal revenue. (The CBO’s analysis did not take the economic impact into account.) CNN's Jake Tapper speaks with University of Michigan professor of economics and public policy Justin Wolfers and Jeremy Lande, CEO of Fontana Forni USA, which imports pizza ovens from Italy to the US. #CNN #News