US President Donald Trump on Sunday (local time) reaffirmed his support for high tariffs, claiming that revenues from his trade policies would soon be distributed to Americans in the form of a $2,000 payment. The payout, he said, would exclude high-income earners.
In a post on Truth Social, Trump wrote, “People that are against Tariffs are FOOLS!” He said that his administration had transformed the United States into “the richest, most respected country in the world, with almost no inflation, and a record stock market price. 401k’s are highest ever (sic)."
Trump also said the country was “taking in trillions of dollars” from tariffs, which he claimed would help pay down the “enormous $37 trillion debt". He added that factories and manufacturing plants were “going up all over the place", and that Americans would soon receive a “dividend of at least $2,000 a person (not including high-income people!)".
Trump’s renewed defense of his tariff agenda comes as the US Supreme Court reviews the legality of the sweeping tariffs imposed during his presidency. The hearings, which began on November 6, are being described as one of the most consequential economic cases to reach the court in recent years.
