Trump hints at ‘rebates’ for Americans from tariff revenue surge. What to know
President Donald Trump says a rebate for Americans is possible due to tariff revenue.
President Donald Trump said on Friday that his team is looking at giving Americans a rebate because of the money coming in from tariffs placed on other countries. Trump has often used tariffs, taxes on goods the US imports, to pressure other countries over immigration, drugs, and trade issues. These tariffs have made markets go up and down, according to a Newsweek report.
Experts have warned that tariffs make everyday goods more expensive for Americans. However, Trump has stood by his decisions, saying, “some little pain” now will be “worth the price that must be paid” in the long run.
What did Trump say?
Speaking outside the White House on Friday, Trump said, “so much money coming in,” and added, “we’re thinking about a little rebate, but the big thing we want to do is pay down debt.”
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The US debt is now over $36 trillion
Trump, who was about to leave for Scotland, added, “But we’re thinking about a rebate,” and “a little rebate for people of a certain income level might be very nice.” He didn’t say who would get the rebate or how much it would be. Customs duties brought in over $100 billion for the 2025 fiscal year so far. In June alone, the US made nearly $27 billion in tariffs, according to the Treasury Department.
What are others saying?
Senator Josh Hawley posted on X, “I will introduce legislation in the Senate to send a rebate check to every working person in America.” Economist Joseph Brusuelas also posted on X, “Interesting way to concede that tariffs-trade taxes-are going to be passed along to consumers in the form of higher prices & inflation: Trump floats the possibility of tariff rebate checks.”
What’s next?
Trump is heading to Scotland for five days. He’ll visit two of his golf courses and meet with UK Prime Minister Keir Starmer. His trip comes just before the August 1 deadline for the US and the European Union to strike a trade deal. If no deal is reached, Trump plans to hit EU imports with a 30% tariff.
