President Donald Trump’s sweeping tariff plan would cut deficits by $2.8 trillion over a 10-year period while shrinking the economy, raising the inflation rate and reducing the purchasing power of households overall.

The European Central Bank is cutting its benchmark interest rate for an eighth time, aiming to support businesses and consumers with more affordable borrowing as U.S. President Donald Trump’s trade wa

The CBO analysis says Trump's tariffs over the next decade would reduce deficits by $2.8 trillion while also curbing economic growth by 0.6 percent.