Former President Donald Trump announced on Sunday that each American could receive a bonus of at least $2,000 due to tariffs.
"People who oppose tariffs are fools! We are now the richest and most respected country in the world, with almost no inflation and record-high stock market prices," Trump stated on Truth Social.
The bonus will not include high-income earners: "A dividend of at least $2,000 per person (excluding high-income individuals) will be paid to everyone," he clarified.
Trump depicted a promising economic landscape with nearly cleared debt, 401k retirement plans "at their highest levels," and "record investment in the United States, with plants and factories emerging everywhere."
Furthermore, he defended the legality of the tariffs amidst skepticism from the Supreme Court, which is reviewing the president's authority to impose them.
"The President of the United States has permission (and full approval from Congress!) to stop all trade with a foreign country (which is much more burdensome than a tariff!) and to license a foreign country, but does not have permission to impose a simple tariff on a foreign country, even on national security grounds. That is NOT what our great founders had in mind! This is all ridiculous!" Trump declared in another post.
"Has the Supreme Court of the United States not been informed? What's going on here?" he added, referencing what he claims is the mass return of companies to American soil.
In late August, a Washington appeals court ruled most of the tariffs imposed by Trump through executive orders to be illegal, challenging a key pillar of his economic strategy.
The ruling questioned the constitutionality of the tariffs, arguing that Trump acted outside legal boundaries by invoking emergency powers to tax imports.
The Trump administration has appealed to the Supreme Court, awaiting its decision.
Understanding Trump's Tariff Policies
Why does Trump believe tariffs are beneficial?
Trump argues that tariffs have made the U.S. the richest and most respected nation, with low inflation and record stock market highs.
Who will be excluded from the $2,000 bonus?
High-income individuals will be excluded from receiving the $2,000 bonus.
What was the court's decision on Trump's tariffs?
A Washington appeals court deemed most of Trump's tariffs illegal, questioning their constitutionality.