The tariffs, which started in April 2025, have already brought in more than $214 billion this year. The Treasury Department said the program was designed to increase revenue through higher fees on imports, especially from countries with trade imbalances. Trump, who is 79, said that once the system is fully active, it could bring in over a trillion dollars each year.

He said: “They (tariffs) are just starting to kick in. Ultimately, your tariffs are going to be over a trillion dollars a year.” He added that most of the revenue would go toward paying down the national debt, which now stands at about $37 trillion.

Trump also said he wants Americans to benefit from the success of the program. He said: “We’re thinking maybe $1,000 to $2,000 – it would be great.” He called it a “dividend to the people of America” and said it would help families still struggling with high costs after the pandemic.