Donald Trump is considering sending a $2,000 (£1,500) tariff bonus to all Americans.
The president has proposed giving away some of the hundreds of billions of dollars he has collected from US trading partners after imposing sweeping tariffs in April.
“We’re thinking maybe $1,000 to $2,000 - it would be great,” Mr Trump told One America News Network, describing the plan as a “dividend to the people of America”.
Mr Trump said cash from the levies would be used to pay back $37tn (£27tn) in national debt, “but we also might make a distribution to the people”.
Boasting about the success of his tariff agenda, the US president said: “They’re just starting to kick in,” claiming “ultimately” his tariffs would bring in more than a trillion dollars each year.
He said this number makes America’s national debt seem “very little, relatively speaking”.
The bonuses would be rebates derived from the $215bn (£160bn) in revenue the government has generated from tariffs so far this year, according to figures from Fox Business.
Mr Trump previously floated the possibility in July, saying the payments would target people “of a certain income level”.
Any disbursements of federal funds would require Congressional approval.
In April, the Mr Trump shook global markets when he imposed 10 per cent “liberation day” tariffs on all US trading partners.
These have been accompanied by targeted levies on certain products, including a 25 per cent tariff on kitchen cabinets, as well as individual tariffs on individual nations such as India, which saw import taxes rise to 50 per cent over New Delhi’s purchase of Russian oil.
Economists have warned that the tariffs risk raising prices for Americans, who are currently facing a cost of living squeeze.
According to Reuters, toys and appliances have jumped in price owing to tariff-driven cost pressures.
Meanwhile, Goldman Sachs estimated that the share of tariff costs absorbed by Americans could rise to 67 per cent by October.
The legality of Mr Trump’s tariff regime was plunged into doubt in late August when a federal appeals court ruled the imposition of the levies breached his emergency powers as president.
The Supreme Court is set to hear arguments in November on whether the president has the power to impose such sweeping global tariffs.
The Trump administration urged the court to fast-track the case in order to avoid casting uncertainty over the trade deals he has chalked up in recent months.
Scott Bessent, the US treasury secretary, warned the Supreme Court that the US could be forced to refund $1tn (£742tn) if that was the case.
“Unwinding them could cause significant disruption,” he said.