US President Donald Trump has announced a new payment program that will be financed by revenues from the country’s customs duties.
Trump, in a post on Truth Social, said most citizens, except high-income Americans, will receive payments of at least $2,000.
Trump stated that the US has collected “trillions of dollars” in tariffs, adding that these revenues would be used both to reduce the $37 trillion national debt and to give citizens “the rewards they deserve.” While praising the country’s economic outlook, Trump lashed out at those criticizing the tariffs, calling them “idiots.”
Trump argued that the US has now become “the richest and most respected country in the world.” In his post, he claimed that inflation is near zero, stock market indices are breaking records, and 401(k) retirement accounts have reached their highest value in history. He also said that investment in the country and factory construction across the country are at a “historic peak.”
In the same series of statements, Trump also addressed Republicans, stating that the lengthy government shutdowns that have led to the shutdown should be abolished. He argued that Republicans should shorten the process, reopen the government, and win the upcoming midterm elections by “passing big things.”
*This is not investment advice.