President Donald Trump claimed that "billions of dollars" were flooding into the United States after his higher tariff rates on dozens of trading partners went into effect at around midnight on Thursday (August 7).

"IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote on his Truth Social account.

The post followed another shared minutes earlier in which Trump once again promised "billions" would be flowing into the United States economy.

"RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA. THE ONLY THING THAT CAN STOP AMERICA’S GREATNESS WOULD BE A RADICAL LEFT C

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