Setting the Stage: CGTN's 'The Bite' Spotlight
In its latest episode, 'The Bite', CGTN highlights Washington's bold pledge: use tariffs and a big new tax package to enrich Americans. Here is a closer look at who stands to gain and what the world can expect.
Tariffs as a Wealth Tool
The White House has promised that selective tariffs could drive an additional $40 billion in revenue this year. The plan is to recycle this money into personal and corporate tax cuts, forming the backbone of the so-called 'One Big Beautiful Bill'.
Winners on Home Turf
- Manufacturers and Exporters: By redirecting tariff revenues into lower tax brackets, heavy industries could see production costs fall and profits rise.
- High-Earning Households: With top marginal rates potentially dropping from 37 percent to 34 percent, high-earners stand to pocket more of their wages.
- Large Corporations: Corporate taxes shrinking from 21 percent to roughly 18 percent could deliver over $100 billion in aggregate savings for big businesses.
Wider Ripples in a Connected World
Beyond U.S. borders, importers face higher costs while suppliers in emerging markets may be squeezed. Digital nomads and young travelers might also notice price upticks on everyday goods, even as currency fluctuations adjust.
The Takeaway
Tariffs plus tax relief could be a win for specific sectors and income brackets, but the broader ripple effects warrant close watching. Whether the gains outweigh the costs will shape debates in Washington and boardrooms across the globe.
Reference(s):
The Bite: Who benefits from U.S. tariffs and 'One Big Beautiful Bill?'
cgtn.com
