President Donald Trump claims the US earns $2 billion a day

US President Donald Trump. (Photo: Xinhua)

Since taking office on January 20, President Trump has imposed a series of tariffs on other countries as part of his “America First” strategy, with the aim of reducing the trade deficit and boosting domestic manufacturing.

However, the figures given by the US leader do not match the figures in the US Treasury Department 's daily report on federal government revenues and expenditures.

The report said that as of this month, revenue from customs duties and some special consumption taxes averaged only about $200 million per day.

Total import tax revenue was about $7.25 billion, according to the ministry's February budget report. The report for March is scheduled to be released on April 10.

Up to this point, President Trump has always affirmed that increasing tariffs will bring large revenues to the US, but many economic experts have issued serious warnings about the consequences of this policy.

In an interview with Bloomberg TV on April 7, former US Treasury Secretary Lawrence Summers warned that the US economy is at high risk of falling into recession and will take away the jobs of about 2 million people.

Household incomes could fall by an average of $5,000 or more per year, he said, and the impact of current tariffs could far exceed those that contributed to the Great Depression of the 1930s. The former finance official called on the Trump administration to roll back the tariffs it has imposed.

But despite the warnings, the White House has stuck to its guns. Press secretary Karoline Leavitt said President Trump has not changed his mind and the new tariffs will go ahead.

The US is imposing a basic tax of 10% on all goods entering the US from April 5, reciprocal tax depending on each country and territory from April 9, and tax on imported cars and auto parts from April 3.

In addition, the US imposed an additional 50% tax on China , in addition to the 20% tax and 34% reciprocal tax already announced, bringing the total tax rate on Chinese goods to 104%.

Many economists and business leaders warn that these US tariff policies will increase the price of goods, negatively affect US consumers and businesses as well as businesses in other countries, disrupt global supply chains and hinder the global economic recovery.

Currently, some of America's trade partners have announced that they will take retaliatory measures, while many other countries, including Vietnam, are promoting negotiations with the US.

Source: https://nhandan.vn/tong-thong-donald-trump-tuyen-bo-my-thu-2-ty-usd-moi-ngay-post871197.html