Trump Administration Seeks New Revenue After Supreme Court Tariff Ruling

Why it matters locally: As a state with significant import and export activity, South Carolina's businesses and consumers could be directly affected by any new revenue-generating measures or tariff adjustments the Trump administration implements.

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WASHINGTON – The Trump administration is exploring methods to replace revenue streams that ceased after a Supreme Court decision in February. The Court invalidated what officials described as the Trump administration's largest tariff measure, which had imposed double-digit import taxes on goods from numerous countries. Historically, these tariffs significantly augmented the U.S. Treasury's revenue. With their elimination, officials now face the task of identifying alternative funding sources to meet the administration's financial objectives.