Trump announced a reduction in income tax in the United States after the start of duties

The income tax for US citizens can be reduced or completely abolished after the commencement of US duties. This was announced on April 27 by US President Donald Trump.

"When the duties come into force, many people's income taxes will be significantly reduced, and perhaps even completely abolished," Trump wrote on his page on the Truth Social network.

The American leader stressed that the main measures to reduce taxes will be aimed at people earning less than $200,000 per year.

"In addition, a huge number of jobs are already being created, new enterprises are being built or planned," Trump concluded.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

Earlier, on April 9, Trump announced that the United States would immediately raise trade duties on China to 125%. On the same day, the Chinese authorities, in turn, decided to raise duties on imported goods from the United States to 84% as a mirror measure.

At the same time, Trump said that the United States could conclude trade agreements with all countries, including China and the European Union (EU), but only on fair terms for Washington.