President Donald Trump announced on Sunday that his administration plans to distribute a $2,000 tariff dividend to most Americans, excluding high-income individuals. He made the statement on his Truth Social account, asserting that the country has become wealthy due to his tariff policies. "People that are against Tariffs are FOOLS! We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k’s are Highest EVER," Trump wrote.

Trump emphasized that the revenue generated from tariffs would allow the government to pay down the national debt, which he described as "ENORMOUS" at $37 trillion. He claimed that the U.S. is taking in trillions of dollars from tariffs, which he believes will benefit the economy.

Treasury Secretary Scott Bessent, however, indicated that he had not discussed the proposed dividend with Trump. During an interview on ABC News' "This Week," Bessent explained that the $2,000 dividend could take various forms, such as tax reductions. "The $2,000 dividend could come in lots of forms, in lots of ways, George," he told anchor George Stephanopoulos.

The proposal would require Congressional approval to be implemented. Earlier this summer, Republican Senator Josh Hawley of Missouri introduced similar legislation that aimed to provide $600 tariff rebates to most Americans and their children. Hawley stated, "My legislation would allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country."

The Treasury Department reported that it collected $195 billion from tariff duties in the first three quarters of this year. Currently, consumers face an average effective tariff rate of 18 percent, the highest since 1934. Companies have passed some of these costs onto customers following the broad tariffs imposed by Trump in April.

While Trump did not specify when the proposed payments might be distributed or how the administration would balance debt reduction with individual checks, he remains optimistic about the economic impact of his tariff policies. This story is still developing, and further updates are expected as more information becomes available.