During the campaign, President Donald Trump floated an "all tariff policy" he said would replace federal income tax. Here's what economic policy experts say.

President Donald Trump’s sweeping tariff threats have been touch and go. As it stands currently, the 25 percent tax on goods from Mexico and Canada is on ice for a month, but a 10 percent tariff on Chinese goods is set to take effect on Tuesday, via an executive order of questionable legality.

The Trump administration hasn’t given up on the idea, according to Peter Navarro, a top adviser to the president who said Tuesday that new revenue from tariffs will be used to eliminate taxes on tips. That comes even as Republicans struggle to come up with enough revenue to make Trump’s 2017 tax cuts permanent, at a cost of more than $4 trillion.