U.S. President Donald Trump pointed to tariff revenue as the funding source for his pledge to pay $5,000 per adult, contingent on a Republican victory in the November midterm elections. But estimates put the money needed to carry out the pledge at a minimum of $1 trillion, raising doubts that actual tariff revenue alone could cover it.
On the 10th (local time), Trump said in a Fox News interview, when asked about the source of the dividends, "We are bringing in $21 trillion," adding, "Thanks to that beautiful word, tariff."
The $21 trillion Trump mentioned appears to refer not to tariffs collected by the U.S. government but to foreign investment expected to flow into the United States due to tariff policy.
Fox News interpreted Trump's answer to mean that if Republicans win the midterms and keep their majority in Congress, a portion of tariff revenue could be used to fund the dividends. Vice President JD Vance also appeared on Fox News earlier and said the "Trump dividends" would be covered by tariff revenue.
However, even Fox News, which is friendly to Trump, raised questions about feasibility. Annual U.S. tariff revenue is around $200 billion, far short of the minimum $1 trillion estimated to be needed for dividend payments.
The previous day, at the Republican midterm convention in Dallas, Texas, Trump pledged that if Republicans win, the United States would pay $5,000 per adult citizen.
In addition to tariffs, Trump also cited TikTok transaction fees and Intel equity held by the U.S. government as funding sources. "We are making money. TikTok as well," he said, adding, "We secured fees for our country and got $10 billion from Intel."
In the process of transferring TikTok's U.S. business to a joint venture centered on U.S. investors, investors are reportedly set to pay a total of $10 billion in fees to the U.S. Treasury. The $10 billion Trump mentioned regarding Intel appears to refer to the value of Intel equity secured by the U.S. government.
Trump said he was confident of a Republican midterm victory but claimed that if they lose, Democrats would launch an impeachment inquiry. "They have said they will create political gridlock and paralyze this country," he said, criticizing Democrats as "radical leftists, socialists, and communists."
Asked whether he regrets that the war with Iran has made the Republican midterm outlook unfavorable, he said, "I do not regret it." He added, "I would do the same if I had to choose again," and claimed, "We eliminated Iran's nuclear capability."
He predicted that oil prices, which have surged due to the war, will drop immediately with the end of hostilities. "I believe the war will end right after the election," Trump said. "It could end before that, but I think it will end right after the election."