The CBO projects Trump's tariffs could reduce the deficit by $2.8 trillion while his tax bill would add $2.4 trillion, but experts from across the political spectrum question whether the tariff revenue is sustainable.

The president cited figures from the Congressional Budget Office to suggest tariffs could offset the cost of tax cuts, though he omitted important caveats for why that may not be the case.

Two courtroom defeats dealt a blow to President Donald Trump’s strategy, even as an appeals court reinstated existing tariffs.