President Donald Trump defended his tariff policy on Sunday, calling opponents of the measure “fools”, and claiming the tariffs have made the United States “the richest, most respected country in the world, where inflation is almost zero.”
He also said that the tariff revenues would “provide a dividend of at least $2,000 to every individual (except those with high incomes!).”
Trump wrote in a post on Truth Social, “People who are against tariffs are fools!”
Trump asserted that the United States “has become the richest, most respected country in the world, where inflation is near zero, and stock market prices are at record highs. 401k is at an all-time high.”
He claimed the tariffs were “earning the US trillions of dollars”, which would help the US “soon begin paying off its massive $37 trillion debt.”
Trump said there was record investment in the country, with “plants and factories being built all over the place” and added that “everybody will be given a dividend of at least $2,000 (except high income people!)”, although no further details were given about the proposed payment.
The comments come days after the US Supreme Court on November 6 began debate on global tariffs imposed during Trump’s presidency, highlighting the ongoing legal investigation into the policies he is defending.
The case is being considered one of the most important economic cases to reach the Supreme Court in years, CNN reported, with the justices considering whether the US President acted lawfully when imposing sweeping tariffs on major global trading partners.
During the hearing, Trump’s lawyers faced deep skepticism from several justices, including Amy Coney Barrett, Neil Gorsuch and Brett Kavanaugh.
Justice Barrett questioned the administration’s use of federal law to impose higher tariffs and challenged why “reciprocating” tariffs were being imposed on all countries.
Treasury Secretary Scott Besant was also present, who emphasized that the administration views the situation as an economic emergency.
Earlier this week, White House press secretary Carolyn Leavitt said the administration was prepared for all consequences, but remained confident in its legal position.
He said, “We completely agree with the legal arguments of the President and his team in this matter and the merits of the law. We are confident that the Supreme Court will take the right decision.”
He added that the case extends beyond Trump’s presidency and concerns the use of emergency tariff powers by future administrations.