A truck drives past shipping containers at the Port of Philadelphia, Nov. 6, 2024.
Bloomberg | Bloomberg | Getty Images
As President Donald Trump begins imposing tariffs on imported goods, some experts question his revenue expectations — including the possibility of replacing the federal income tax.
During his presidential campaign, Trump floated an “all tariff policy” at a June meeting with Republican lawmakers, where he said the plan would allow the U.S. to eliminate income tax.
Some policy experts have been skeptical of the idea.
“It’s just not a realistic proposal,” said Alex Durante, senior economist at the Tax Foundation, which analyzed the idea in June.
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While tariffswere a major source of federal revenue during the …