US to receive over $600B in tariff revenue, Trump claims
What's the story
US President Donald Trump has claimed that the country will collect over $600 billion in tariffs. He made the statement on Monday, saying that America is "far stronger" in terms of national security and finances due to these levies imposed on other countries. The announcement was made via a post on Truth Social, Trump's social media platform.
Media criticism
Trump criticizes media for not reporting tariff income
In his post, Trump criticized the media for not reporting on the tariff income. He said, "We have taken in, and will soon be receiving, more than $600 billion in tariffs, but the Fake News Media refuses to talk about it because they hate and disrespect our country." The president also accused them of wanting to interfere with an upcoming tariff decision by the US Supreme Court.
Strength assertion
Tariffs strengthen US's national security and financial standing
Trump emphasized that the tariffs have made the US "far stronger" from a national security and financial standpoint. He also said they have made America more respected than ever before. The president's statement comes months after he announced a series of tariffs on imports from various countries, claiming that the US had been treated unfairly in trade matters.
Tariff details
Trump's tariffs on India and Russian oil purchases
Among the countries Trump has slapped hefty tariffs on is India, which has been hit with a 50% tariff. This includes a 25% levy on its purchases of Russian oil. The move was part of his broader strategy to impose tariffs on imports from around the world, in response to what he perceived as unfair treatment of the US in global trade.