US President Donald Trump doubled down on his signature tariff policy on Sunday, using his social media platform to vehemently defend the duties, call critics “fools,” and make a major economic promise to the American public.
In a post on Truth Social, the President boasted that his administration was collecting “trillions of dollars” from tariffs and promised that nearly every American would soon receive a $2,000 “dividend” funded by these revenues.
“People that are against Tariffs are FOOLS!” Trump wrote. He went on to assert that under his leadership, the United States had become “the richest, most respected country in the world, with almost no inflation and a record stock market.”
The President claimed the money collected from tariffs would not only help lower the national debt but would also directly benefit citizens. He did not, however, specify the mechanism or the timeline for the distribution of the proposed $2,000 payment to all Americans, excluding high-income earners.
Tariffs Face Supreme Court Scrutiny
Trump’s strong defense of his tariff policy comes at a time when its legality is facing severe scrutiny at the US Supreme Court.
- On November 5, the court heard arguments in a case seeking to overturn the duties, with several justices expressing skepticism about their legality.
- If the Supreme Court were to strike down the tariffs, the ruling could potentially trigger more than $100 billion in refunds and strip away one of the President’s key economic and trade tools.
The President has recently stepped up his defense, calling his tariff policy his “strongest economic weapon” and warning that overturning the duties would be a “disaster” for the U.S. economy. The legal challenge partly concerns Trump’s April 2 “Liberation Day” tariffs, which imposed levies ranging from 10% to 50% on most U.S. imports based on their country of origin.
Treasury Secretary Offers Alternative View
Following President Trump’s announcement of the “dividend,” Treasury Secretary Scott Bessent was asked about the proposed $2,000 payout during an interview on ABC.
Bessent stated that he had not discussed the plan directly with the President. He suggested that the relief “could come in lots of forms,” implying the payout might not be a direct check. Bessent 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.
- Allowing deductions on auto loans.
This indicates a potential divergence in views between the White House and the Treasury Department regarding the implementation of the promised financial relief.