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Topics: Donald Trump, Tariffs, US News, Money
Callum Jones
Topics: Donald Trump, Tariffs, US News, Money
Donald Trump has provided an update on when ‘moderate earners’ can expect to receive tariff dividends after he announced the controversial scheme earlier this month.
The president revealed Americans could receive up to $2,000 through the dividends as a result of his administration's controversial tariffs.
Trump took to Truth Social to explain the policy as he stated: "People that are against Tariffs are FOOLS! We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k’s are Highest EVER.
"We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion. Record Investment in the USA, plants and factories going up all over the place. A dividend of at least $2000 a person (not including high income people!) will be paid to everyone."
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Treasury Secretary Scott Bessent later explained how it would support low-income families amid worries it would favour those with higher incomes.
"Well, there are a lot of options here that the president’s talking about a $2,000 rebate and those — that would be for families making less than, say, $100,000," Bessent.
While no exact date has been provided on when Americans can expect the money in their pocket, Trump has provided a rough idea.
Speaking in the Oval Office about the FIFA World Cup heading to the US next summer, the president explained they would be issued before the soccer starts.
"We’re gonna be issuing dividends later on, somewhere prior to — the middle of next year, a little bit later than that," the Republican president said.
The World Cup starts on June 11, 2026, meaning eligible Americans can expect to see the money in their pocket before then.
Trump also gave an update on Friday (November 14) regarding the payments by saying the $2,000 cash bonus won't be coming in time for the holiday season.
"No, no. Not for this year," he said. "It'll be next year sometime.
"The tariffs allow us to give a dividend. We’re going to do a dividend and we’re also going to be reducing debt."
While it may be expected the Democrats would oppose such a move, even some Republicans have criticised the plans laid out by Trump.
“It’ll never pass. We have a $37 trillion debt,” Republican Sen. Bernie Moreno told reporters back in July, as per Business Insider.
That debt has since surpassed $38 million as of November, according to the US Department of Treasury.