US President Donald Trump
US President Donald Trump has once again strongly defended his tariff stance and described it as beneficial for the American economy. Posting on the social media platform Truth Social on Sunday, November 9, Trump said that those who oppose tariffs are fools. According to him, tariffs have made America economically stronger and made the country more prosperous than before.
America benefited from the tariff
Trump claimed that because of his policies America has become the richest and most respected country in the world today. He wrote that the American economy is in a better condition than before due to low inflation, strong stock market and increasing investments. Trump also said that Americans’ retirement accounts, known as 401k, have reached an all-time high.
Regarding the income from tariffs, Trump said that America is earning trillions of dollars. He claims that due to this additional earning, the country can soon start reducing its huge debt of about 37 trillion dollars. However, experts say that the claims of income from tariffs still need to be proved with clear data.
Said to give 2000 dollars to Americans
In his post, Trump made another big claim and said that record investment is being made in America and new factories and plants are being built across the country. He said that due to these tariff policies, every American will be given a dividend of at least $2000 in the coming time, although he did not share any official plan or process regarding this.
This statement of Trump has again started the debate on America’s economic policies. While its supporters consider it a sign of economic strength, critics say that tariffs increase inflation and put additional burden on the public. Many questions are being raised regarding Trump’s new promise of $2000 dividend as to how and when this plan will be implemented.