President Trump said Sunday that most Americans will receive a $2,000 dividend as a result of his administration's tariffs on foreign countries.
Trump announced the potential payments on his Truth Social platform, calling opponents of his tariffs “FOOLS” in a post.
“We are receiving trillions of dollars and will soon begin paying off our MASSIVE $37 TRILLION DEBT,” the president wrote. “Record investment in the US, plants and factories are growing everywhere. Dividends of at least $2,000 per person (not counting high income people!) will be paid to everyone.”
The payments would likely require congressional approval. There is currently no concrete plan to pay dividends, which could cost the government hundreds of billions of dollars.
Trump's post comes after a difficult week for the president.
Supreme Court heard the arguments in a case that questions whether Trump exceeded his authority by imposing tariffs on foreign countries without congressional support. Most justices, including conservative justices such as Chief Justice John G. Roberts, were skeptical of the president's powers under the Constitution.
Most justices appear to be of the opinion that the Constitution gives the power to raise taxes, duties, and tariffs to Congress, not the President.
This blow followed Democratic victories across the country on Tuesday.
Since taking office, Trump has imposed high tariffs on certain goods, as well as particularly high tariffs on goods from certain countries, such as India and Brazil.
Trump said in a speech Thursday at the White House that lifting the tariffs would be “devastating” for the United States.
On Sunday in an interview with George StephanopoulosTreasury Secretary Scott Bessent said he had not yet spoken to Trump about the proposed dividend.
“The $2,000 dividend can come in different forms and in different ways,” Bessent said.
