Trump says tariff revenue to fund $2K checks for Americans, lower nation’s $38T debt

Tariffs have raised billions, hardly enough to dent the national debt

Amanda Macias / FOXBusiness

 

President Donald Trump said Monday that he plans to use tariff revenue to issue $2,000 payments to low- and middle-income Americans, with any remaining funds directed toward paying down the nation’s massive debt. 

 Over the weekend, Trump called those who oppose tariffs "fools" and defended his proposal, saying revenue from the duties would

"All money left over from the $2000 payments made to low and middle income USA Citizens, from the massive Tariff Income pouring into our Country from foreign countries, which will be substantial, will be used to SUBSTANTIALLY PAY DOWN NATIONAL DEBT," Trump wrote in a Truth Social post.

With the nation’s debt hovering just north of $38 trillion, it’s unclear how tariff revenue could really chip away at it.

Tariffs typically raise billions, not trillions, in revenue, a fraction of what would be needed to meaningfully shrink the national debt. Read more, see video and charts here,