Trump mulls $1,000–$2,000 rebates to Americans from tariff revenues.
Says tariffs could yield over $1 trillion annually, aiding debt reduction.
U.S. tariff collections hit $214.9 billion; projections reach $300 billion yearly.
Supreme Court to review Trump’s authority over broad tariff impositions.
US President Donald Trump said on Thursday that he is considering giving Americans up to $2,000 in rebates from revenues generated by his tariff policies, referring to the payments as a “dividend to the people of America.”
Speaking to One America News Network, Trump said, “They’re just starting to kick in,” while referring to the tariffs imposed on foreign nations since April.
The US President further said, “Ultimately, your tariffs are going to be over a trillion dollars a year.” On being asked about the potential size of the rebate, Trump added, “We’re thinking maybe $1,000 to $2,000 – it would be great.”
He also said the funds would first be used to reduce the US national debt, which currently stands at $37 trillion. Trump also described the same amount as “very little” given the surge in government revenue from tariffs. “Number one, we’re paying down debt,” Trump stated, “because people have allowed the debt to go crazy.”
“With that being said, we’ll pay back debt, but we also might make a distribution to the people,” he further mentioned. As per the Treasury data cited by Fox Business, the federal government has collected approximately $214.9 billion from tariffs so far this year. Additionally, September's tariff revenue reached $31.3 billion, which was $73 million lower than August's record.
Earlier, Treasury Secretary Scott Bessent had projected that the total tariff revenue could reach at least $300 billion by the end of the year. The proposal comes at a time when the Supreme Court prepares to hear a case in early November to determine whether the president has the authority to impose broad tariffs.
Previous rulings by lower courts and the US Court of Appeals for the Federal Circuit questioned the legality of most of Trump’s levies but allowed them to remain in effect pending appeal. He also asserted the top court that if the tariffs are ruled illegal, the government could be required to refund between $750 billion and $1 trillion in collected and projected revenue.
