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Trump said he is considering using tariff revenues for the distribution of tax refund checks or for repaying national debt.
[Trump considers using tariff revenue for tax rebate checks or repaying national debt] Trump stated that he is considering using a portion of the revenue from tariffs imposed on trade partners to distribute tax rebate checks to the American public. "We are indeed considering this issue. We have a lot of funds coming in right now, and we are thinking about distributing a little tax rebate," Trump told reporters Friday before departing the White House for Scotland. "Giving a little tax rebate to people below a certain income level could be very good." He also mentioned that it is possible to use this portion of income to repay the national debt, "The biggest thing we want to do is reduce debt, but we are also considering rebates." So far this fiscal year, revenue from tariffs in the United States has exceeded $100 billion for the first time. According to the monthly budget report released by the U.S. Treasury, in June, the U.S. collected $27 billion in customs duties, bringing the total tariff revenue for the fiscal year to $113 billion.