WASHINGTON — President Donald Trump on Friday floated the idea of potential rebates for Americans with certain incomes, thanks to the tens of billions of dollars coming into the United States through his tariff policies.
While Trump gaggled with reporters on the South Lawn before departing for Scotland, a reporter asked Trump about potential rebates because of the tariff revenue.
“We’re thinking about that actually, we have so much money coming in. We’re thinking about a little rebate, but the big thing we want to do is pay down debt,” Trump said.
“We have so much money coming in from tariffs that a little rebate for people of a certain income level might be very nice,” he added.
In June, the Treasury Department brought in a $27 billion budget surplus, which was fueled by his tariff policies, beating out forecasts of a $50 billion deficit, as Breitbart News Economic Editor John Carney noted:
Monthly surpluses typically occur in April, when many Americans file their taxes. Surpluses are also common in January and September. A June surplus is highly unusual.
Much of the improvement stemmed from a 301 percent increase in tariff collections compared to June of last year. Customs duties totaled $27 billion in June, up from $23 billion in May and more than quadruple the $6.7 billion collected a year earlier. For the fiscal year to date, tariff revenues have reached $113 billion, an 86% increase over the same period in 2024.
Treasury Secretary Scott Bessent has said that he expects tariffs to bring in as much as $300 billion in revenues this year.
Between January 1 and July 24, the United States brought in $104 billion in tariff revenue, which is “115.2% more than the same time last year,” Politico reported.
Trump’s tariffs have led to a flurry of trade deals with the United Kingdom, Vietnam, Japan, the Philippines, and India, while he has also hammered out a framework with China. Over recent weeks, Trump has begun sending letters to countries informing them of the duties they will pay to export goods to America, effective August 1. Countries can open up negotiations by removing trade barriers and tariffs on American goods, therefore allowing U.S. companies to access their markets.
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