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According to a report by Jinse Finance, Trump stated that he is considering using a portion of the revenue generated from tariffs imposed by his administration on trade partners to issue rebate checks to the American public. “We are indeed considering this. We have a lot of funds coming in right now, and we are thinking about issuing some rebates,” Trump told reporters at the White House on Friday before departing for Scotland. “It could be very good to give a bit of a rebate to people below a certain income level.” He also mentioned that it is possible this revenue could be used to pay down U.S. national debt. “The main thing we want to do is reduce the debt, but we are also considering rebates.” So far this fiscal year, U.S. tariff revenue has surpassed $100 billion for the first time. According to the U.S. Treasury Department’s monthly budget report, in June, the U.S. collected $27 billion in customs tariffs, bringing the total tariff inflow for the current fiscal year to $113 billion.

According to ChainCatcher, citing Jintou News, despite recent optimism among EU diplomats about an imminent trade agreement, Trump stated that the likelihood of the US and EU reaching a deal to lower import tariffs is “only fifty-fifty.” Trump said, “I think the chances of reaching an agreement are fifty-fifty, maybe even less, but there’s still a fifty percent possibility. US and EU negotiators are working closely together to try to reach a deal.” Earlier this month, Trump issued a letter stating that if the US and EU fail to reach an agreement by August 1, the EU will face punitive measures imposing a 30% tariff on most goods, in addition to industry-specific supplementary tariffs. Trump also said today that in the coming days, he will unilaterally issue nearly 200 tariff letters, setting a new round of tariffs for other countries, with some letters specifying tariff rates of 10% or 15%.