Trump on Sunday announced that every American, except high-income earners, would receive a $2,000 “tariff dividend” check, claiming the funds would come straight from the money his administration is collecting through tariffs. The statement was posted on Truth Social, where the president defended his trade policies, criticized opponents, and said the U.S. is now pulling in trillions from import taxes.
Trump said, “People that are against Tariffs are FOOLS!” and claimed that tariffs have made the U.S. “the richest, most respected country in the world, with almost no inflation, and a record stock market price.” He also pointed out that the country’s retirement accounts are at all-time highs and insisted the $37 trillion U.S. debt would soon start going down because of revenue from tariffs. He did not give a date for when these dividend payments would begin or how they would be distributed but added that plants and factories are being built “all over the place” as a result of increased foreign investment.
In a later post, Trump wrote:
“So, let’s get this straight??? The President of the United States is allowed (and fully approved by Congress!) to stop ALL TRADE with a Foreign Country (Which is far more onerous than a Tariff!), and LICENSE a Foreign Country, but is not allowed to put a simple Tariff on a Foreign Country, even for purposes of NATIONAL SECURITY. That is NOT what our great Founders had in mind! The whole thing is ridiculous! Other Countries can Tariff us, but we can’t Tariff them??? It is their DREAM!!! Businesses are pouring into the USA ONLY BECAUSE OF TARIFFS. HAS THE UNITED STATES SUPREME COURT NOT BEEN TOLD THIS??? WHAT THE HELL IS GOING ON??? President DJT”
Tariffs squeeze small businesses across the U.S. While Trump credits tariffs for boosting government income, many small business owners say these same policies are putting them under. Unlike large companies that can absorb rising costs, smaller operations have fewer buffers and are being pushed to the edge.
Eunice Byun, CEO of Material Kitchen, told CNBC that her company, which sells kitchenware, has “definitely taken it on the chin year-over-year” in terms of top-line revenue. She explained that managing supply chains and pricing has become dramatically more complex.
Anjali Bhargava, owner of Anjali’s Cup, which sells turmeric and chai blends, said rising costs have left her unable to stockpile products. “It’s been really frustrating because I don’t have the resources to stockpile,” she said, adding that tariffs are now a threat to her entire livelihood.
The Small Business Administration estimates that 36 million small businesses operate in the U.S., contributing roughly 43% of the national GDP. Many of these businesses are bearing the brunt of trade policies without the kind of insulation that larger corporations enjoy.
Supreme Court Challenges Tariff Power as Trump Targets More Countries
The Supreme Court is now considering whether Trump’s heavy use of emergency powers under the 1977 International Emergency Economic Powers Act (IEEPA) to justify tariffs is legal. If the Court decides against the administration, the U.S. average tariff rate could drop to 6.5%—a level not seen since before Trump’s April 2 “Liberation Day” announcement, when new tariffs were imposed on dozens of countries including India, China, Brazil, and even Switzerland.
Last week, Trump and Chinese President Xi Jinping reached a temporary agreement in which the U.S. agreed to reduce tariffs on Chinese imports by 10% and hold off on further increases for a year. But despite the pause, tensions remain high over key exports that both countries tightly control.
Chinese state media have reported that some researchers believe the Supreme Court will not completely block Trump’s tariffs, even though a few justices have questioned their legality. Treasury Secretary Scott Bessent was quoted as saying the U.S. would maintain current tariff levels regardless of the Court’s final ruling.
https://bitcoinethereumnews.com/finance/trump-announces-a-planned-2000-tariff-dividend-check-for-most-americans/