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News Topical, Digital Desk : US President Donald Trump has once again defended his tariff policy. President Trump stated that the tariffs will directly benefit every American citizen.
In fact, during an interview, President Trump stated that every American would receive at least $2,000 (approximately Rs. 177,000) in tariff dividends due to the tariffs. Following Trump's claim, people are wondering how this is possible. The Trump administration has now provided the answer.
Confusion over tariff dividend
The Trump administration has cleared up confusion about tariff dividends for Americans. US Treasury Secretary Scott Bessent explained that tariff dividends could be distributed to Americans other than high-income earners through a variety of means, including tax cuts and other fiscal measures.
How will the tariff dividend be distributed?
US Treasury Secretary Scott Bessent explained that the $2,000 dividend could be beneficial in many ways. It would reduce the tax burden on ordinary people. For example, Americans pay significant taxes on tips, overtime, and Social Security. These types of taxes would be eliminated or reduced through the tariff dividend.
Trump defends tariff policy
Significantly, on Sunday, the US President defended his tariff policy, claiming that these strict taxes have made America the richest and most respected country in the world.
However, Trump called those opposing the tariffs fools. He said that every American, except the wealthy, would soon receive at least $2,000 from tariff revenue collected by his government.
Opposition to Trump's tariff policy
It's worth noting that President Trump has been defending his tariff policy since the US Supreme Court questioned the legality of this move last week. Trump's continued discussion of this policy suggests that several taxes could be repealed. If this happens, President Trump would suffer a significant setback and could have to issue refunds of over $100 billion.
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