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 U.S. military said it completed a fresh wave of strikes on Iran late on Thursday, marking the 13th consecutive night of American attacks. The late...
Six candidates vying to become the next United Nations Secretary-General have called for restoring the organisation's credibility, strengthening multi...
Kazakhstan is set to become the first country in Central Asia to introduce electric vertical takeoff and landing (eVTOL) air taxis into its transport...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of July, covering the latest developments you need to know.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 24th July, covering the latest developments you need to know.
U.S. strikes on Iran entered a 12th consecutive night, while Yemen's Houthis said they attacked two Saudi oil tankers in the Red Sea, urging President Donald Trump to warn Tehran it would be held responsible for any future Houthi attacks.
The U.S. military said it completed a fresh wave of strikes on Iran late on Thursday, marking the 13th consecutive night of American attacks. The latest operation lasted more than two hours, according to U.S. Central Command.
Aleksandar Vučić's visit to Kyiv on 15 July appeared to send a geopolitical signal. But the significance of the trip lies less in the journey itself than in the limits Serbia carefully observed.
Six candidates vying to become the next United Nations Secretary-General have called for restoring the organisation's credibility, strengthening multilateralism and reforming the UN, during the first public town hall debate ahead of a decisive Security Council vote next week.
Kazakhstan and Kyrgyzstan are facing renewed Western scrutiny after the EU expanded sanctions targeting Russia's supply chains and the U.S. introduced new tariffs affecting trade with Central Asia.
A fast-moving wildfire has forced more than 10,000 people to evacuate homes and camping sites near France's Atlantic coast as extreme heat and worsening drought continue to fuel wildfires across Europe.
Fresh off attracting $4.3 billion in foreign investment and loans during the first half of 2026, Tashkent is using the Global Business Services Forum (GBSF) to showcase Uzbekistan's growing appeal as a destination for international investment in technology, outsourcing and artificial intelligence.
UK Prime Minister Andy Burnham has begun his first week working from No 10 North in Manchester, promising to shift power away from London, strengthen regional decision-making and drive economic growth across the country.
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