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Trump on Sunday talked about giving $2,000 to every low-income American.
US President Donald Trump posted on Truth Social on Sunday and claimed that billions of dollars are being generated from tariffs. He said that from this earning, every American citizen, except the rich, will get a ‘dividend’ of $ 2,000 (about Rs 1.7 lakh).
Trump called critics of the tariffs ‘idiots’ in the post. He said, ‘People who speak against tariffs are fools. Our government has made America the richest and most respected country in the world, where inflation is negligible and the stock market is at record levels.
However, Trump did not specify who would receive these benefits, its eligibility criteria (like what would be the income limit?) or the timeline. This is not the first time he made such a promise. In October he hinted at a discount of $1,000 to $2,000.
Trump said – businesses are coming to America because of tariffs
Apart from profiting from tariffs, Trump expressed anger by questioning the limits of the President’s power in trade matters.
He said the President of the United States has the permission to stop all trade with a foreign country, is allowed to grant licenses to another country, but is not allowed to impose tariffs for national security. Trump said-
Other countries can impose tariffs on us, but we cannot impose tariffs on them. The only reason businesses are coming to America is because of tariffs. Without tariffs we have nothing. Doesn’t the Supreme Court understand this?
Trump said that the tariffs announced in April 2025 (10% to 50%) are strengthening the American economy. The White House argued that under the International Emergency Economic Powers Act of 1977 (IEEPA), the President has the power to impose trade controls, which includes imposing tariffs.
Solicitor General John Savar warned that if this policy is cancelled, there could be economic and national security damage.
Court said- Parliament has the power to impose tariff
The US Supreme Court has declared most of Trump’s tariffs illegal. On November 5, 2025, Supreme Court’s liberal Justice Sonia Sotomayor, citing the Constitution, said that the power to impose taxes lies with the Parliament, not the President.
Trump had imposed tariffs on countries like China, Canada, Mexico due to trade deficit and other reasons. Trump justified these laws under the International Emergency Economic Powers Act (IEEPA).
He said that the trade imbalance was a threat to America’s national security and hence he declared a ‘national emergency’ on trade and imposed tariffs.
Treasury Secretary said- Our focus is on repaying the loan
US Treasury Secretary Scott Besant clarified Trump’s claims in an interview with ABC News. He said that he has not discussed this dividend with Trump. But perhaps this amount could come in the form of tax cuts.
According to the Times of India report, Besant’s focus is on repaying the loan and not on distributing direct cheques. In August he told CNBC that tariff revenues would reduce the debt by $38.12 trillion.
After assuming office on January 20, Trump issued an executive order imposing tariffs.
Report- Trump’s plan may increase debt
The tariffs would generate just $195 billion in fiscal year 2025, according to a September statement from the Treasury Department. If $2,000 were distributed per person (about 250 million non-wealthy Americans), the cost would be about $500 billion, far exceeding current incomes.
According to the New York Times report, this plan may increase the debt instead of reducing it.
America’s debt is Rs 3,200 trillion, highest in the world
America’s national debt will reach approximately $38 trillion (approximately Rs 3,200 trillion) by November 2025, which is the largest debt in the world.
This debt is divided into treasury securities (government bonds). About 70% of the total debt is with American institutions (domestic), while 30% is with foreign countries and investors.
The foreign share is around $8-9 trillion. Japan is America’s largest creditor, considering American bonds as safe investments. At the same time, China’s share is decreasing (earlier it was more than 1 trillion).
This debt is more than 120% of the GDP of the American economy ($30 trillion), which is a matter of concern. Increasing debt is costing more than $1 trillion annually on interest payments.
Trump had imposed tariffs on more than 100 countries
Trump had announced the imposition of tariffs on countries around the world in the joint session of the US Parliament on March 5. He had said that our economy is continuously going into losses. To avoid this loss, we will impose tariffs on all those countries who impose tariffs on our goods.
About a month later, on April 2, President Trump had announced the imposition of tariffs on 69 countries including India. It was scheduled to come into effect from April 9, but Trump then postponed it. Later on July 31, Trump imposed tariffs on more than 100 countries, which came into full effect in August.
Trump has imposed tariffs on most countries of the world.
50% US tariff on India, penalty on buying oil from Russia
Trump has imposed a total of 50% tariff on India so far. There is a 25% reciprocal i.e. tit-for-tat tariff and a 25% penalty on purchasing oil from Russia.
The reciprocal tariff came into effect from August 7 and the penalty from August 27. America has imposed economic sanctions on India to put pressure on Russia.
Trump has many times claimed that Russia promotes war in Ukraine with the money received from India’s oil purchases.
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