Trump Considers Using Tariff Revenue for Rebate Checks or Paying Down National Debt

According to a report by Jinse Finance, Trump stated that he is considering using a portion of the revenue generated from tariffs imposed by his administration on trade partners to issue rebate checks to the American public. “We are indeed considering this. We have a lot of funds coming in right now, and we are thinking about issuing some rebates,” Trump told reporters at the White House on Friday before departing for Scotland. “It could be very good to give a bit of a rebate to people below a certain income level.” He also mentioned that it is possible this revenue could be used to pay down U.S. national debt. “The main thing we want to do is reduce the debt, but we are also considering rebates.” So far this fiscal year, U.S. tariff revenue has surpassed $100 billion for the first time. According to the U.S. Treasury Department’s monthly budget report, in June, the U.S. collected $27 billion in customs tariffs, bringing the total tariff inflow for the current fiscal year to $113 billion.