New York : US President Donald Trump on Sunday doubled down on his aggressive tariff policy, promising that every American — except the wealthy — will soon receive at least $2,000 from tariff revenues collected by his administration. Trump lashed out at critics of his trade policy. People that are against Tariffs are FOOLS!” he wrote, boasting that his administration had turned the United States into the richest, most respected country in the world, with almost no inflation, and a record stock market price.
He also touted what he called record-breaking economic achievements. “401k’s are highest EVER,” he wrote, adding that “plants and factories (are) going up all over the place”. Trump did not provide details on how the proposed tariff dividend would be distributed or when it would take effect. The president’s post also comes as the Supreme Court reviews challenges questioning whether he exceeded his executive powers by imposing sweeping tariffs on imports from nearly every major trading partner.
In recent days, Trump has stepped up his defense of his tariff policy, calling it his “strongest economic weapon.” He has warned that striking down the tariffs would be a “disaster” for the US economy. The case partly concerns Trump’s April 2 “Liberation Day” tariffs, which impose levies ranging from 10% to 50% on most US imports based on their country of origin. Trump has defended the duties as necessary to reduce the nation’s longstanding trade deficit and strengthen domestic manufacturing.
Soon after Trump’s announcement, Treasury Secretary Scott Bessent was asked about the proposed “$2,000 dividend” during an interview on ABC. He said he had not discussed the plan directly with the president but suggested the payout “could come in lots of forms,” according to Bloomberg. He mentioned that the relief could take the shape of tax cuts already on the president’s agenda, such as eliminating taxes on tips, overtime, and Social Security, as well as allowing deductions on auto loans.
Read Also : Tragic End to Search: Father and Daughter’s Bodies Unearthed in Nepal’s Snowy Heights
-
-
-
-
