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President Donald Trump said Monday he wants to deliver tariff-funded rebate checks to “moderate income, middle income” Americans by mid-2026, describing the payments as part of a larger effort to ease household costs and pay down federal debt.
“We have thousands of dollars for individuals of moderate income, middle income. We are going to pay down debt. We have a lot of money from tariffs; if we didn’t have tariffs, this country would be in serious trouble,” the president told reporters during an Oval Office meeting with the 2026 FIFA World Cup task force.
He added that tariff policy has protected key industries, saying, “We’ve protected our businesses from being raided like we did with the chip business. Now we’re bringing them all back.”
Federal tariff collections have surged since President Trump’s sweeping trade actions this year. As of Sept. 30, the government had generated $195 billion in tariff revenue, a 153 percent jump from $77 billion in fiscal 2024, according to Treasury Department data. Nearly $30 billion was collected in July alone.
President Trump reshaped the global trade landscape in August by imposing a 10 percent base tariff on imports from all countries, along with additional duties that vary by nation. On Friday, Trump rolled back tariffs on more than 200 food products, including coffee, beef, bananas, and orange juice, amid public concern over grocery costs.
Treasury Secretary Scott Bessent appeared cautious when asked about the president’s rebate proposal. In a Fox News interview Sunday, Bessent said he had not yet discussed the plan with Trump and suggested it remains uncertain whether Americans would receive direct payments.
“We will see. We need legislation for that,” Bessent told host Maria Bartiromo when asked whether the administration plans to send checks of $2,000 or more.
He added, “Again, President Trump is all about solutions, Maria. Everything is on the table, but I will tell you that, again, thanks to him keeping his campaign promises to working Americans with the … no tax on tips, Social Security, overtime, we are going to see a big bump in the first quarter with the refunds and the real incomes.”