A White House aide says the tariffs could bring in $6 trillion over the next decade.
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00:00If the Trump administration continues its torrid pace
00:03of implementing tariffs, it could wind up amounting
00:05to the biggest tax hike in U.S. history.
00:07White House aide Peter Navarro says Trump's tariffs
00:10are expected to bring in $6 trillion in revenue
00:13over the next decade.
00:14Even with adjusting for inflation,
00:16that would be three times as much as the 1942 tax increase
00:20which was used to pay for World War II.
00:22But Navarro has echoed the president's belief
00:24that the tariffs are a tax cut, not a tax hike.
00:27He told Fox News,
00:29the message is that tariffs are tax cuts,
00:31tariffs are jobs, tariffs are national security,
00:34tariffs are great for America,
00:36they will make America great again.
00:38Navarro also claims that the $6 trillion number
00:41doesn't even include tariffs placed on cars.
00:43Those tariffs, he says, would bring in another
00:45$100 billion a year.
00:47However, to reach Navarro's total,
00:49a 25% tariff would have to be placed
00:51on almost all $3.3 trillion worth of goods
00:54imported by the U.S. last year.
00:56That'll do it for your daily briefing.
00:58From New York City, I'm Lauren Torres with The Street.