White House trade adviser Peter Navarro said tariffs would raise about $600 billion to $700 billion a year. Economists say that’s nearly impossible.

Peter Navarro’s remarks suggest Trump is preparing dramatic new tariff measures for Wednesday, which the president has referred to as “Liberation Day.”

A White House adviser's analysis of the impact of President Trump's planned tariffs suggested Sunday that it will be dramatic. Peter Navarro said on Fox News that the tariffs will result in more than $6 trillion in federal revenue over the next decade.

White House advisor Peter Navarro claims that President Trump's proposed tariffs will generate $6 trillion in revenue over a decade, describing them as a "tax cut" for Americans. Economists argue that tariffs usually increase costs for businesses and consumers.

President Donald Trump’s new set of tariffs are set to roll out on Wednesday, but their impact is already being felt, according to Business Insider’s Ben Bergman, who threw cold water on the idea that the plan will spring the economy.