Trump Likes Tariffs as ‘Revenue Source,’ Wilbur Ross Says

Donald Trump’s proposals to increase tariffs on foreign goods are part of a strategy to raise revenue, his onetime Commerce secretary said, as the former president weighs new levies on US trading partners if he wins the November election.

“President Trump has always liked the idea of tariffs as a revenue source, and that’s where he went with the idea of tariffs on products from day one,” Wilbur Ross said Thursday in an interview with Bloomberg Television.

Ross’s comments came after Trump told congressional Republicans Thursday he was considering raising tariffs in order to offset cuts to individual income ...