We will phase in a system of universal, baseline tariffs on most foreign products. As tariffs on foreign producers go up, taxes on American producers will go down and go down very substantially.
Stated position. What this official has said they believe on this issue — a sourced claim, shown distinctly from any assessment of what they did. It is never scored and never affects the Integrity Score.
Derived from a tracked promise: “We will phase in a system of universal, baseline tariffs on most foreign products. As tariffs on foreign producers go up, taxes on American …”
Sources
- American Presidency Project — 2024 Republican Party Platformhttps://www.presidency.ucsb.edu/documents/2024-republican-party-platform ↗
“Republicans will support baseline Tariffs on Foreign-made goods, pass the Trump Reciprocal Trade Act. As Tariffs on Foreign Producers go up, Taxes on American Workers, Families, and Businesses can come down.”
- Congress.gov (S. 381, 119th Congress — latest action Feb. 4, 2025)https://www.congress.gov/bill/119th-congress/senate-bill/381 ↗
“Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”
- The Conservative Treehousehttps://theconservativetreehouse.com/blog/2023/02/27/the-golden-arrow-president-trump-announces-economic-agenda-47-which-includes-universal-baseline-tariffs/ ↗
“We will phase in a system of universal, baseline tariffs on most foreign products. As tariffs on foreign producers go up, taxes on American producers will go down and go down very substantially.”
- Supreme Court of the United States, Learning Resources, Inc. v. Trump (slip opinion, Feb. 20, 2026)https://www.supremecourt.gov/opinions/25pdf/24-1287_4gcj.pdf ↗
“the President imposed a duty "on all imports from all trading partners" of at least 10%, with dozens of nations facing higher rates”
“Hours after the Supreme Court decision, Trump said he planned to impose a worldwide tariff of 10% using Section 122 of the Trade Act of 1974, which is designed to address trade deficits.”
- U.S. Government Publishing Office (govinfo.gov), Public Law 119-21https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm ↗
“Sec. 70301. Full expensing for certain business property.”
- Internal Revenue Servicehttps://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill ↗
“For tax year 2026, the standard deduction increases to $32,200 for married couples filing jointly.”
“At the center of our plan for economic relief are massive tax cuts for workers—and that includes NO TAX ON TIPS. That means if you are a restaurant worker, bartender, hospitality worker, caddy, barber, mover, driver, or anyone else who relies on tip income, your tips will be 100% YOURS.”
“When I get to office, we are going to not charge taxes on tips. We're not going to do it, and we're going to do that right away, first thing in office, because it's been a point of contention for years and years and years.”
- Internal Revenue Servicehttps://www.irs.gov/newsroom/one-big-beautiful-bill-act-tax-deductions-for-working-americans-and-seniors ↗
“Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received in occupations that are listed by the IRS as customarily and regularly receiving tips on or before December 31, 2024”
- govinfo, U.S. Government Publishing Officehttps://www.govinfo.gov/app/details/PLAW-119publ21 ↗
“Date Approved: July 4, 2025”
- LiveNOW from FOXhttps://www.livenowfox.com/news/donald-trump-rnc-speech-transcript-watch-full-video ↗
“I will end the devastating inflation crisis immediately, bring down interest rates and lower the cost of energy.”
- The White House, Executive Order 14154https://www.whitehouse.gov/presidential-actions/2025/01/unleashing-american-energy/ ↗
“to encourage energy exploration and production on Federal lands and waters, including on the Outer Continental Shelf, in order to meet the needs of our citizens and solidify the United States as a global energy leader long into the future”
- Federal Reserve, FOMC statement, December 10, 2025https://www.federalreserve.gov/newsevents/pressreleases/monetary20251210a.htm ↗
“the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-1/2 to 3-3/4 percent”
“The Consumer Price Index rose at an annual rate of 4.2%, up from 3.8% in the prior month and marking the highest level since April 2023.”
- p2016.org (Trump Detroit Economic Club speech)https://p2016.org/trump/trump080816sp.html ↗
“Under my plan, no American company will pay more than 15% of their business income in taxes.”
- Newsweek (full transcript, Detroit Economic Club speech)https://www.newsweek.com/full-transcript-trump-speech-488566 ↗
“Limit taxation of business income to 15% for every business, from freelancers to the Fortune 500.”
- Internal Revenue Service, Publication 542 (Corporations)https://www.irs.gov/publications/p542 ↗
“Corporations, including qualified personal service corporations, figure their tax by multiplying taxable income by 21% (0.21).”
- Internal Revenue Servicehttps://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses ↗
“This new provision, also known as Section 199A, allows a deduction of up to 20% of qualified business income for owners of some businesses. Limits apply based on income and type of business.”
- Commission on Presidential Debates — Third Presidential Debate transcripthttps://www.debates.org/voter-education/debate-transcripts/october-19-2016-debate-transcript/ ↗
“We're going to cut taxes massively. We're going to cut business taxes massively. We're bringing GDP from, really, 1 percent...up to 4 percent.”
- CBS News, Dec. 21, 2018https://www.cbsnews.com/news/the-tax-bill-is-one-year-old-here-are-the-winners-and-losers/ ↗
“Thanks to a major cut in their tax rate, corporations are now taxed at a 21 percent rate instead of 35 percent.”
- U.S. Bureau of Economic Analysis, Feb. 20, 2026https://www.bea.gov/news/2026/gdp-advance-estimate-4th-quarter-and-year-2025 ↗
“Real GDP increased 2.2 percent in 2025 (from the 2024 annual level to the 2025 annual level), compared with an increase of 2.8 percent in 2024.”
- U.S. Bureau of Economic Analysis, Jan. 30, 2020https://www.bea.gov/news/2020/gross-domestic-product-fourth-quarter-and-year-2019-advance-estimate ↗
“Real GDP increased 2.3 percent in 2019 (from the 2018 annual level to the 2019 annual level), compared with an increase of 2.9 percent in 2018”
- Office of the U.S. Trade Representativehttps://ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement ↗
“The United States-Mexico-Canada Agreement (USMCA) entered into force on July 1, 2020.”
- U.S. Government Publishing Office (govinfo.gov)https://www.govinfo.gov/app/details/PLAW-116publ113 ↗
“An act to implement the Agreement between the United States of America, the United Mexican States, and Canada attached as an Annex to the Protocol Replacing the North American Free Trade Agreement.”
- Commission on Presidential Debates — First Presidential Debate transcripthttps://www.debates.org/voter-education/debate-transcripts/september-26-2016-debate-transcript/ ↗
“NAFTA is the worst trade deal maybe ever signed anywhere, but certainly ever signed in this country. We have to renegotiate our trade deals, and we have to stop these countries from stealing our jobs.”
- p2016.org (Trump Gettysburg Contract with the American Voter speech)https://p2016.org/trump/trump102216sp.html ↗
“An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification, in combination with trade reform, regulatory relief, and lifting the restrictions on American energy.”
“Under our plan, the economy will average 25 million new jobs... My great economists don't want me to say this, but I think we can do better than that.”
- U.S. Bureau of Economic Analysishttps://www.bea.gov/news/2021/gross-domestic-product-4th-quarter-and-year-2020-advance-estimate ↗
“Real GDP decreased 3.5 percent in 2020 (from the 2019 annual level to the 2020 annual level), compared with an increase of 2.2 percent in 2019”
“Trump has become the first president since Herbert Hoover during the Great Depression to depart office with fewer jobs in the country than when he entered.”
- p2016.org (Trump campaign press release)https://p2016.org/trump/trump092815pr.html ↗
“No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes.”
- CNBC, June 10, 2026https://www.cnbc.com/2026/06/10/cpi-inflation-report-may-2026.html ↗
“Inflation climbed above 4% for the first time in three years, though the increase met expectations amid concerns over how much the surge in energy prices would impact the economy.”
- Fortunehttps://fortune.com/2024/02/04/donald-trump-china-tariff-60-percent-imports-trade-war-election/ ↗
“Asked about a Washington Post report that he was considering a flat 60% tariff on Chinese goods imports, Trump said 'no, I would say maybe it's going to be more than that' in a Fox News Sunday Morning Futures interview.”
- Congressional Research Service via Congress.gov (LSB11398, Feb. 23, 2026)https://www.congress.gov/crs-product/LSB11398 ↗
“In an opinion authored by Chief Justice Roberts, the Court held that IEEPA does not give the President authority to impose tariffs.”
- The White House (Executive Order of Apr. 9, 2025 modifying reciprocal tariff rates)https://www.whitehouse.gov/presidential-actions/2025/04/modifying-reciprocal-tariff-rates-to-reflect-trading-partner-retaliation-and-alignment/ ↗
“heading 9903.01.63 of the HTSUS shall be amended by deleting '84%' each place that it appears and by inserting '125%' in lieu thereof”
- The White House (Joint Statement on U.S.-China Economic and Trade Meeting in Geneva, May 12, 2025)https://www.whitehouse.gov/briefings-statements/2025/05/joint-statement-on-u-s-china-economic-and-trade-meeting-in-geneva/ ↗
“suspend 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10 percent on those articles”
- The White House (America First Trade Policy memorandum, Jan. 20, 2025)https://www.whitehouse.gov/presidential-actions/2025/01/america-first-trade-policy/ ↗
“The Secretary of Commerce and the United States Trade Representative shall assess legislative proposals regarding Permanent Normal Trade Relations with the PRC and make recommendations regarding any proposed changes to such legislative proposals.”
- Federal Register (USITC notice of investigation No. 332-609, Mar. 2, 2026)https://www.federalregister.gov/documents/2026/03/02/2026-04100/effects-on-the-us-economy-of-revoking-chinas-permanent-normal-trade-relations-status ↗
“The U.S. International Trade Commission has self-instituted Investigation No. 332-609, Effects on the U.S. Economy of Revoking China's Permanent Normal Trade Relations Status, to produce a report as directed by the U.S. House of Representatives Committee on Appropriations”
- Congressional Research Service via Congress.gov (IF12980, updated May 14, 2025)https://www.congress.gov/crs-product/IF12980 ↗
“The 119th Congress is considering legislation that would revoke the People's Republic of China's (PRC or China) permanent normal trade relations (PNTR) status.”
“I will cut the corporate tax rate from 21% to 15% solely for companies that make their product in America.”
“Trump proposed reduction in corporate tax rate from 21 percent to 15 percent solely for companies that make their product in America at the Economic Club of New York, September 5, 2024.”
- Committee for a Responsible Federal Budgethttps://www.crfb.org/blogs/donald-trumps-suggestion-end-taxation-social-security-benefits ↗
“Trump posted on Truth Social on July 31: 'SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!' He repeated this at rallies, including: 'We will have no tax on tips, no tax on overtime and no tax on Social Security benefits for our seniors.'”
“Today, I'm also announcing that as part of our additional tax cuts, we will end all taxes on overtime. The people who work overtime are among the hardest working citizens in our country, and for too long, no one in Washington has been looking out for them.”
- ABC News (full text of Trump's 2016 RNC acceptance speech)https://abcnews.com/Politics/full-text-donald-trumps-2016-republican-national-convention/story?id=40786529 ↗
“I have proposed the largest tax reduction of any candidate who has declared for the presidential race this year. Middle-income Americans will experience profound relief, and taxes will be greatly simplified for everyone I mean everyone.”
- govinfo.gov, Public Law 115-97, approved Dec. 22, 2017https://www.govinfo.gov/app/details/PLAW-115publ97 ↗
“An act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.”
- NPR (via member station KGOU), Nov. 15, 2021https://www.kgou.org/politics-and-government/2021-11-15/biden-signs-the-1-trillion-bipartisan-infrastructure-bill-into-law ↗
“Trump declared 'Infrastructure Week' several times during his term, but was never able to get a bill through Congress.”
- White House (archived), Feb. 12, 2018 fact sheethttps://trumpwhitehouse.archives.gov/briefings-statements/building-stronger-america-president-donald-j-trumps-american-infrastructure-initiative/ ↗
“$200 billion in Federal funds will spur at least $1.5 trillion in new infrastructure investments.”
- Office of the U.S. Trade Representativehttps://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/june/ustr-issues-tariffs-chinese-products ↗
“an additional duty of 25 percent on approximately $50 billion worth of Chinese imports containing industrially significant technologies”
“Large and persistent annual U.S. goods trade deficits have led to the hollowing out of our manufacturing base; inhibited our ability to scale advanced domestic manufacturing capacity”
- RealClearPolicyhttps://www.realclearpolicy.com/articles/2016/10/30/donald_trumps_contract_with_the_american_voter.html ↗
“A middle-class family with two children will get a 35 percent tax cut.”
- White House (archived)https://trumpwhitehouse.archives.gov/briefings-statements/president-donald-j-trumps-historic-tax-cuts-delivering-real-savings-creating-opportunity-americans/ ↗
“The TCJA will provide more than $2,000 in tax cuts in 2018 for an average family of four with an income of $75,000.”
“a tax cut of $870, or 1.6 percent, for the average household earning $50,000 to $75,000”
- Internal Revenue Servicehttps://www.irs.gov/newsroom/be-tax-ready-understanding-tax-reform-changes-affecting-individuals-and-families ↗
“The AMT exemption amount is increased to $70,300 ($109,400 if married filing jointly or qualifying widow(er); $54,700 if married filing separately).”
- The Singju Post — Economic Club of New York transcripthttps://singjupost.com/full-transcript-trump-speaks-at-the-economic-club-of-new-york/?singlepage=1 ↗
“Trump pledged to 'eliminate a minimum of 10 old regulations for every one new regulation' in his second term, at the Economic Club of New York speech on September 5, 2024.”
- Federal Register (GovInfo)https://www.govinfo.gov/content/pkg/FR-2025-02-06/pdf/2025-02345.pdf ↗
“whenever an executive department or agency (agency) publicly proposes for notice and comment or otherwise promulgates a new regulation, it shall identify at least 10 existing regulations to be repealed”
- The White House (OMB/OIRA)https://www.whitehouse.gov/briefings-statements/2025/12/32750/ ↗
“In total, agencies finalized 646 deregulatory actions compared to only 5 regulatory actions, for a ratio of 129-to-1”
“Trump pledged to cap credit-card interest rates during a campaign rally in Uniondale, New York, on Sept. 18, 2024, stating: 'We're going to cap [interest rates] at around 10%... We can't let them make 25 and 30 percent.'”
- Associated Press (via PBS NewsHour), Jan. 10, 2026https://www.pbs.org/newshour/politics/banks-balk-as-trump-pushes-for-1-year-10-cap-on-credit-card-interest-rates ↗
“Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates”
“"I'm asking Congress to cap credit card interest rates at 10% for one year, and this will help millions of Americans save for a home," Trump said”
- Roll Call Factbasehttps://rollcall.com/factbase/trump/transcript/donald-trump-speech-campaign-rally-savannah-georgia-september-24-2024/ ↗
“We will put a 100% tariff on every single car coming across the Mexican border and tell them the only way they'll get rid of that tariff is if they want to build a plant right here in the United States with you people operating that plant.”
“I would say over a period of eight years … The power is trade. Our deals are so bad. [referring to eliminating the $19 trillion national debt, in Washington Post interview Mar 31, 2016]”
- U.S. Treasury, Fiscal Data - Debt to the Pennyhttps://api.fiscaldata.treasury.gov/services/api/fiscal_service/v2/accounting/od/debt_to_penny?fields=record_date,tot_pub_debt_out_amt&filter=record_date:in:(2017-01-19,2021-01-19,2025-01-17)&format=json ↗
“"record_date":"2025-01-17","tot_pub_debt_out_amt":"36206593315575.15"”
- White House (archived), Executive Order 13783, Mar. 28, 2017https://trumpwhitehouse.archives.gov/presidential-actions/presidential-executive-order-promoting-energy-independence-economic-growth/ ↗
“It is in the national interest to promote clean and safe development of our Nation's vast energy resources, while at the same time avoiding regulatory burdens that unnecessarily encumber energy production, constrain economic growth, and prevent job creation.”
- U.S. Energy Information Administration, Mar. 2, 2020https://www.eia.gov/todayinenergy/detail.php?id=43015 ↗
“Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019”
- E&E News by Politico, Aug. 8, 2024https://www.eenews.net/articles/oil-and-gas-jobs-decline-amid-record-breaking-production/ ↗
“But employment among the people who find that oil and pull it out of the ground is down nearly 20 percent from prepandemic levels.”
- Internal Revenue Servicehttps://www.irs.gov/businesses/section-965-transition-tax ↗
“Section 965 requires United States shareholders to pay a transition tax on the untaxed foreign earnings of certain specified foreign corporations as if those earnings had been repatriated to the United States.”
- Internal Revenue Servicehttps://www.irs.gov/newsroom/irs-provides-additional-details-on-transition-tax-on-untaxed-foreign-earnings ↗
“It also provides a related deduction which generally lowers the effective tax rate to between 8% and 15.5%.”
- Internal Revenue Servicehttps://www.irs.gov/businesses/small-businesses-self-employed/estate-tax ↗
“A filing is required if the gross estate of the decedent, increased by the decedent's adjusted taxable gifts and specific gift tax exemption, is valued at more than the filing threshold for the year of the decedent's death.”