Trump tariff: rebate checks for Americans

Trump tariff: rebate checks for Americans

your questions here if you would like to still write in we’re going to answer these questions. towards the end of the interview here But what questions do you have about tariffs or these tariff checks? Once again scan that QR code and the top right-hand corner of your screen. If you would like to weigh in, let’s bring in our expert, joining us now is Ravine Gandhi. He is a tariff and economy expert and founder. slash former CEO of GMM. non-stick Coatings. Thank you so much for joining us here on live now from Fox this morning to break this all down for us, we appreciate it. Oh, thanks a lot. so, I just read here some numbers, I’m going to read them again. So the White House. praising these tariffs. As we’ve heard there. Uh, I just said though, these tariffs have brought in 28 billion dollars in July, but can you speak to the concern? that these tariffs could be putting the cost more on the American taxpayer? The consumers and the businesses can you speak to the other side of that? Yeah. So, you know, I built a company. that uh served 40 million 40 million Americans every day called GMM and we were very impacted by the tariffs in 2018 and 2019. And I was doing a lot of media back then complaining about the tariffs. saying this is going to crash the economy saying it’s going to cause a recession saying it’s going to cause inflation. but the reality is it didn’t And so now when President Trump enacted these, I have that first hand experience where I don’t actually believe that. all of the Doomsday people who are complaining about these things. really have it, right? Because the stock market isn’t all-time high right now. We’ve got companies beating earnings, you know, beating earnings and the economy is in a pretty strong place. So that’s what I would say to people who are worried that all these terrible things are going to happen. yeah, and just on the other side of the coin here, because we do like to bring both sides to our audience here. So, Americans expected to pay an average of 18.3% more. for imported products as I just shared before I brought you in here. these chicks would be giving back. $600 per adult. So could 1 make the argument though, that if these rebate checks do happen because again, this is still proposed right now. how beneficial is this really going to be for the taxpayer? Well, I think that, you know, as someone who has built these businesses that are very close to the consumer, what we know is that when the consumer has more capital in their pocket, there’s more growth. I’ve seen that at GMM, I’ve seen that with all the recent startup deals that I invest in and this is the key thing. This is maybe the first time ever where consumers would get a check in the mail which is deficit. neutral This is the first time that we’re talking about having money. going to people, that was not actually raised in our own treasury. So I think that that’s a very important thing for people who may not even understand on Main Street. Well, what is a tariff? But when they get a check in the mail, they’re going to like that. And number 2 when they come to understand that money actually came from foreign governments who are trying to sell into America, I think that it’s going to be pretty Pro growth. I want to talk about. President Trump’s recent comments on tariff rebate checks. uh, because again this was introduced because president Trump said, hey, we’re looking into this. So how has this had influence on the financial markets Has it had any influence since he has uh, stated this Well yeah, I do think that, you know, president Trump is all about would like to call Animal Spirits, You know he wants people to feel good about investing in America and so when he when he gives money to people based on the fact that he made a lot of other countries, blank, you know, when you see the deals that he struck with the EU, and with Japan, these are historically asymmetrical deal in the favor of America. and to take some of that revenue and give it to people. I think that it’s going to it’s going to create a lot of calmness. in in the market that nothing bad is is going to happen. How could this impact trade relations with other? countries though? Well, look if I’m 1 of these rival countries right now that hasn’t struck a deal with President Trump This is going to make me that much Liker to negotiate because a lot of people in April, you know, when when liberal Liberation day when the market sort of cratered people thought Oh Trump’s just going to back off. But like you’ve said, we’re in an 18% rate, right now, and I think that compares to 2% last year, Trump is bringing in tens of hundreds of billions of dollars and and I don’t think he’s just going to turn that off. So, I think that it’s going to absolutely be positive from a a game theory perspective and you know, I’ll also tell you as someone who is kind of a fiscal Hawk. I wish they would use all the money to pay down the debt but I think he’s making a pretty smart political. calculus here because he wrote in in 2024 sort of as the main street president And I think that this is a way where he wants to show his ba his base. that what I campaign came campaigned on, I’m actually delivering so, we did ask our viewers. to write in some questions. here. I did want to get to those before we get back to our discussion here, so let’s start bringing up these questions. Thank you to our viewers. who did write in. So this question, we, uh, touched on a little bit earlier here, but how much money can we expect? We do know. It’s going to be $600 per person. 2400. per family, so we did. uh, touch on that a little bit already there, but maybe we have another question. We can switch on. thank you for writing inlay. Let’s see, do we have anything else? All right. when will citizens receive tax cuts in place of tariffs as promised by President Trump Ravine, can you speak to that for us? When will they receive tax cuts instead of tariffs or based on tariffs? Well, let’s see. This says, when will citizens receive tax cuts in place of terrorists as promised by President Trump, could you just speak to maybe a what president Trump has said? in terms of tax cuts, yeah, he has said some things that that are pretty amazing if they were to actually happen. he has floated the idea of not even having an income tax. If tariff, Revenue continues to be high and I believe he said it was for everyone making something under it was either 100,000 or 200,000 dollars would pay no tax now I don’t think that that is going to happen. I mean, if it does I think the sky is the limit because Americans, you know, his job approval rating will probably be 80% at that point but I think that this sort of dividend that he’s declaring is a good first step. towards effectuating some actual relief to Main Street with tariffs. But you know, we’ll see what has to happen in terms of Congress. actually getting rid of the income tax. a question I had for you, you know, we saw these Co rebate checks back when that was happening, But historically, have we seen anything like this? uh, come out of Congress? in recent years or historically in terms of these rebate, checks with tariffs because tariffs are really something that President Trump has really uh hit home on here really something. we haven’t seen before with any other president. yeah, I mean like you said the co stuff was pretty unprecedented both with Trump and Biden. We obviously had the Trump tax cuts. we had like going back to George W. Bush We had tax cuts but the key thing about this and this is so important. deficit. neutral. I mean, if there’s something that people on both sides of this, country believe it is that we have way too much debt and no 1 on either side. Has done anything to fix it And the fact that we can actually have dollars going to the hardworking Americans who deserve it. Most and that, that money came from all of these other. huge countries that want to sell to us. The biggest most dynamic economy in the world. That is that the historic. All right, 1 of my last questions for you here. Senator, Josh Hawley. He’s the 1 that proposed this bill. So again, this is still a proposal. we don’t know if this is going to happen but what are your thoughts? Do you think Americans are going to be getting some rebate checks? You know, it depends on if it if it passes and I think that it’s going to be how much can Holly influence the people on the other side and I can maybe just give you a little bit of of my, my political story I was a 20 year Democrat. I voted for every Democratic president including Joe Biden And after 20 years in 2024, I voted for President Trump. and the reason is what When I saw what Biden did On the border with wokeism with decriminalizing crime and most importantly, the socialism that I see coming out of the democratic party, I find it. Unbelievable. And there are so many centrists like me. who feel like we did not leave the Democratic party, the Democratic party left us. so I think that there’s a whole bunch of people who are centrists who from a constituent perspective are very supportive of what this President is doing. because the media keeps screaming about how all of these things are going to ruin America. and it’s a dictatorship, and he’s taking over it’s complete nonsense. And a lot of people who, who see their 401ks at an all-time high who might be getting these dividend. in checks who are going to start to feel like other countries are treating us. fairly they’re going to say. This just is common sense stuff. So I think that, you know, I’m very much rooting for this President and I think that for the people who are opposing you know, senator Hawley, you know, you just nominated an actual socialist to be the mayor of New York City that is insane in this country, that I’m even saying those words. So I think the Democratic party has a lot of soul searching to do because it’s lost a lot of people. like me who are with them for decades. And this is a story we’re going to follow here to see if we are going to be getting those rebate checks. So thank you so much Ravine Gandhi for coming on the show and for your perspective, we do appreciate it this morning. Thanks a lot. and we wanted to ask you after this conversation. do you support? rebate checks? Some of you have already weighed in. Thank you for that if you’d like to scan that QR code to weigh in the top right-hand corner of your screen, you can And we will share this throughout the show here. but 77% of you saying yes, you do support the rebate checks. some of you are unsure, that’s okay.

Trump tariffs: Senator Josh Hawley (R-MO) introduced legislation to provide tariff rebate checks of at least $600 per adult and child in America.

President Donald Trump said that some Americans could receive “rebates” from tariff revenue.

“Americans deserve a tax rebate after four years of Biden policies that have devastated families’ savings and livelihoods. Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country,” Senator Hawley said.

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