A Congressional Budget Office (CBO) report published on Thursday estimated the termination of tariffs under the International Emergency Economic Powers Act (IEEPA) would grow the U.S. deficit by $2 trillion from 2026 to 2036 compared with baseline projections from when the tariffs were in place last year. That sum includes $1.6 trillion in primary deficits, as well as $400 billion in outlays for interest.
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