Trump has talked about potentially using tariffs to eliminate the federal income tax. A tariff is a tax levied on imported goods — a tax meant to level the playing field for domestic companies. Here’s something to keep in mind, while you may not pay federal income tax, you’ll likely pay more for things you use every day. Many economists, including those interviewed by Forbes, have said, “Everyday necessities, like clothing, food, and household goods, as well as significant purchases like electronics, vehicles, and equipment, will immediately increase in price.”