Trump Announces $2,000 Payments for Americans from Tariff Initiative

Share and Follow

In a statement on Sunday, former President Donald Trump announced that each American is set to receive a minimum of $2,000. This money would come from the tariff revenues collected by his administration.

Trump declared on his Truth Social platform, “Everyone will receive a dividend of at least $2,000, excluding high-income individuals!” He criticized those opposed to tariffs, labeling them as “FOOLS!”

For such a plan to materialize, it would likely require approval from Congress. Earlier this year, Senator Josh Hawley, a Republican from Missouri, introduced a bill proposing $600 tariff rebates for nearly all Americans and their dependent children.

“My proposed legislation aims to ensure that the hard-working citizens of America benefit from the wealth generated by Trump’s tariffs, which is being brought back to our country,” Senator Hawley stated during the proposal.

Treasury Secretary Scott Bessent, though, told CNBC in August that the administration’s priority is paying down the $38.12 trillion national debt using the tariff revenue.

On Sunday, Trump also said that the administration would pay down the “ENORMOUS” debt using tariff revenue.

partner The Hill has reached out to the White House for clarification on the president’s plan.

Through the first three quarters of this year, the Treasury Department collected $195 billion from tariff duties, according to its September statement.

But as of Oct. 17, consumers are facing an average effective tariff rate of 18 percent, the highest since 1934, according to the Yale Budget Lab. After the president imposed sweeping tariffs on trading partners around the world in April, firms have passed on some tariff costs to customers.