President Trump said Sunday that most Americans will receive a $2,000 dividend as a result of tariffs his administration has imposed on foreign countries.
Trump announced the possible payments on his Truth social platform, calling those who oppose his tariffs “fools” in a post.
“We are absorbing trillions of dollars and will soon begin paying down our massive debt of $37 trillion,” the president wrote. “America is investing at record levels, with mills and factories being built everywhere. Dividends of at least $2,000 per person (excluding high-income earners!) will be paid to everyone.”
Providing payments may require congressional approval. There is no concrete plan for the dividend, which could cost the government hundreds of billions of dollars.
Trump’s comments come after a difficult week.
The Supreme Court heard arguments in a case questioning whether Trump exceeded his authority by imposing tariffs on foreign countries without support from Congress. Most justices, including conservatives such as Chief Justice John G. Roberts, appeared skeptical of the president’s authority under the Constitution.
A majority of the justices seemed to believe that the Constitution gave Congress, not the president, the power to raise taxes, duties, and tariffs.
The blow follows Democratic gains across the country on Tuesday.
Since Trump took office, he has imposed high tariffs on specific goods and imposed particularly high tariffs on goods from specific countries such as India and Brazil.
Speaking at the White House on Thursday, Trump said lifting tariffs would be “devastating” for the United States
On Sunday, Treasury Secretary Scott Bessant said in an interview with George Stephanopoulos that he had not yet discussed the proposed dividend with Trump.
“A $2,000 dividend can come in many shapes and forms,” Bessant said.
