...
By Jason Lemon and Mandy Taheri
0
Share
Newsweek is a Trust Project member
See more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.
President Donald Trump said Friday that his administration is considering a new rebate for Americans due to "so much money coming in" from tariffs the United States has imposed on other countries.
Why It Matters
Trump has repeatedly announced, imposed, paused and reinstated a slew of tariffs at varying rates on U.S. trading partners to curb immigration, drug trafficking, and reduce trade deficits. Trump's various tariffs have caused the market to both slump and spike.
Read More on Politics
Economists and experts have warned that Trump's tariffs, which are effectively a tax imposed on imported goods, will inevitably lead to increased costs for Americans. Trump has defended his policies, saying the tariffs will cause "some little pain" upfront but in the long term will be "worth the price that must be paid."
...
What To Know
Trump told reporters outside the White House on Friday morning that the country has "so much money coming in," that the administration is "thinking about a little rebate, but the big thing we want to do is pay down debt."
Currently, U.S. debt is over $36 trillion.
The president, who was preparing to depart for Scotland, noted, "But we're thinking about a rebate," later adding, "A little rebate for people of a certain income level might be very nice."
Trump did not specify who would be eligible or the amount of the rebate.
Recently, U.S. customs duties in the 2025 fiscal year surpassed $100 billion for the first time. The U.S. Treasury Department reported nearly $27 billion in customs duties revenue in June alone.
What People Are Saying
Senator Josh Hawley, a Missouri Republican, said Friday on X: "I will introduce legislation in the Senate to send a rebate check to every working person in America."
Joseph Brusuelas, principal and chief economist for RSM US, said Friday 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 Happens Next
Trump is en route to Scotland for a five-day visit, during which he will visit two of his golf courses and is scheduled to meet with United Kingdom Prime Minister Keir Starmer.
Trump's trip to Europe comes just days ahead of the August 1 deadline for the European Union and the United States to reach a trade deal before he imposes a sweeping 30 percent tariff on EU imports.
Update 7/25/25, 12 p.m. ET: This article was updated with additional information.
View 0 Comments
Submit Correction
View Editorial & AI Guidelines