President Donald Trump made a comment on tariff revenue at his final Cabinet meeting of the year.

"We’re going to be giving back refunds out of the tariffs because we’ve taken in literally trillions of dollars," said Trump. "I believe that at some point in the not too distant future you won't even have income tax to pay."

But is it possible the U.S. is taking in enough tariff revenue to eventually eliminate federal income taxes? Here’s a closer look at the facts.

Last fiscal year, individual income taxes brought in trillions more than tariffs, accounting for more than 50% of total U.S. revenue. Tariffs made up only 3.7%, with a total of $195 billion.

With this data, it seems far from possible to use tariffs to replace income taxes.

Even if the numbers were somehow made to add up, replacing revenue from federal income taxes with tariffs carries many pitfalls.

Tariffs could lead to retaliation from other countries and a drop in imports. In fact, revenue could start going down the more tariffs go up.

There’s also uncertainty about how much money tariffs would actually generate.