US President Donald Trump has said that distribution of money received from the tariff revenue is possible and that some Americans could get some kind of dividend from the ‘reciprocal tariff’ being imposed on America’s trading partners, Reuters reported. “There could be a distribution or a dividend to the people of our country, I would say for people that would be middle income people and lower income people, we could do a dividend,” Trump said ahead of boarding his Air Force One after leaving his golf club in New Jersey. Trump has imposed tariffs on almost all its trading partners in order to balance their trade deficit with the US. The US president first announced the ‘reciprocal tariffs’ in April which led to a global financial crisis with stock markets plunging across the world market. Trump had then decided to put the tariffs in moratorium for 90 days and set a baseline 10% tariff for the countries, and made room to negotiate deals with the federal administration. The deadline which was supposed to end on July 9 was extended to August 1 and several countries were able to strike a deal with the US. However, a country like India, which isn't able to finalise a deal on time with the US administration has been imposed with a 25% tariff on all its products exported to the United States, while Trump has also threatened a penalty for purchasing Russian oil and arms. The United States was able to finalise a deal with the UK, European Union, South Korea, Japan, Indonesia, Pakistan among others. The Republican leader has argued that tariffs boost American manufacturing and protect jobs. However, Trump’s volatile trade policy has thrown the world economy into crisis and sent jitters across all the stock exchanges. Several firms have also increased their prices for the US consumers as a result of Trump’s tariff policy.
