The Congressional Budget Office (CBO) said Friday that continued global tariff hikes imposed by President Donald Trump could shrink the national deficit by $4 trillion over the next ten years.
According to the nonpartisan agency, higher tariff revenues could cut primary deficits by $3.3 trillion and reduce federal interest payments by $0.7 trillion.
However, the current top tariff rates may change as trade negotiations and international legal challenges continue. The additional revenue could offset deficit growth triggered by the recent Republican tax-cut and spending bill, which CBO estimates would add $3.4 trillion to the deficit over the next decade.
The U.S. federal debt currently stands at $37.18 trillion, continuing to rise under both Republican and Democratic administrations as Congress authorises more spending than revenue. Lawmakers face a government funding deadline at the end of September, or risk a shutdown.
The latest estimate is higher than CBO’s June projection, which forecast a $2.5 trillion reduction in primary deficits and a $500 billion cut in interest outlays.
The United Nations High Commissioner for Refugees (UNHCR) announced that it has temporarily suspended activities at its returnee encashment centres ac...
The European Union is set to propose a 19th package of sanctions targeting Russia’s oil industry and shadow tanker fleet, while also extending its c...
Poland has rejected claims that an incursion into its airspace by Russian drones might have been accidental with a Polish Defence minister saying "the...
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Britain launched a new package of Russia-related sanctions on Friday, targeting ships carrying Russian oil, as well as companies and individuals suppl...
Thousands of Washington D.C. residents marched on Saturday to protest President Donald Trump’s deployment of National Guard troops and federal law enforcement across the city, calling for an end to what they describe as an “occupation.”
The U.S. has doubled tariffs on Indian goods to 50%, heightening trade tensions with one of its closest strategic partners and threatening thousands of exporters and jobs in India.
President Donald Trump said on Friday that he may extend his federal crackdown on crime to Chicago and other Democrat-led cities, after deploying the National Guard and federal agents in Washington, D.C.
Monday, August 18th, 2025, may already be marked as a historical date and qualified as a beginning of the end of the war in Ukraine. In simplest terms, what happened during the White House meeting is that three out of four parties agreed that a territorial cession is an acceptable price for peace.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
The United Nations High Commissioner for Refugees (UNHCR) announced that it has temporarily suspended activities at its returnee encashment centres across Afghanistan, after de facto authorities ordered Afghan female staff not to work.
The European Union is set to propose a 19th package of sanctions targeting Russia’s oil industry and shadow tanker fleet, while also extending its current measures on individuals tied to the ongoing war in Ukraine for another six months.
Poland has rejected claims that an incursion into its airspace by Russian drones might have been accidental with a Polish Defence minister saying "there can be no mistake with such a large-scale attack on Poland".
Britain launched a new package of Russia-related sanctions on Friday, targeting ships carrying Russian oil, as well as companies and individuals supplying electronics, chemicals and explosives used to make Russian weapons.
Widespread outrage has erupted in Yemen after Israeli airstrikes killed at least 46 people and wounded more than 165 on Wednesday, according to the Houthi-run Health Ministry.
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