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News Topical, Digital Desk : US Treasury Secretary Scott Bessant said on Tuesday that customs revenue from President Donald Trump's tariffs could exceed $500 billion a year.
He also said that there has been a significant increase in it from July to August and it is likely to increase further in September as well.
A significant increase was seen during July to August
Besant said in a White House Cabinet meeting that the earlier estimate of tariff collection rate of $300 billion was very low. It has seen a significant increase during July to August and an even bigger increase will be seen during August to September.
So it is estimated that we could easily reach somewhere above half a trillion or even almost a trillion dollars. This would significantly reduce the budget deficit.
US will allow entry of 600,000 Chinese students: Trump
US President Donald Trump said on Tuesday that America will allow 600,000 Chinese students to enter its universities. However, his decision is surprising.
The reason being, his government was already being strict with international students. His decision has also led to protests within the country.
The American college economy will collapse
On this, Trump argued that if we do not allow this then the economy of American colleges will be devastated.
Amid tariff talks with China, Trump said the arrival of Chinese students was important. He said he was positive about having a good relationship with China.
We want better relations with China- Trump
Chinese President Xi Jinping wants him to come to China, this is a very important relationship. We want better relations with China.
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