No checks. The Secretary of the United States Treasury, Scott Besent, has momentarily buried on Tuesday, August 19, the idea mentioned by Donald Trump to pay checks to Americans to redistribute the billions of dollars collected thanks to the new customs tasks imposed on dozens of countries.
In an interview with the CNBC American television channel, Scott Besent said that his estimate of $ 300 billion in revenues collected by the United States thanks to the new customs tariffs (100 billion have already been collected since April) that he is “substantially reviewed upwards.” But it is not about redistributing these billions to Americans immediately.
The United States GDP is currently $ 30,000 billion for a debt of $ 37,000 billion, or 123% of its GDP, according to the National Debt Clock of the US Site.
Pay the debt with lower interest rates
In early August, Donald Trump left the door open to “a small discount” or “a distribution or a dividend” for Americans with “average or weak income.” Republican senator Josh Hawley had taken the idea when preparing a bill that provides for the sending of $ 600 checks to each person, adult or dependent child.
The increase in customs tariffs generates new income, but US consumers can be the first to pay the cost, while imported products prices will increase. However, the US Treasury Secretary said Americans will probably soon benefit from a fall in interest rates.
The fall in interest rates is a tension issue for several months between Donald Trump and the Federal Reserve (Fed). The US president treated Jerome Powell, the president of the Fed, of “fool” and “loser” several times because he refused to reduce interest rates as fast as Donald Trump wished, due to the risk of inflation generated by the increase in customs tasks.
Source: BFM TV
