America First
What has President Trump said this week?
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What has President Trump said this week? 〰️
1. $8 Trillion Tariff Revenue?
On Truth Social, President Trump stated that his tariffs had generated $8 trillion in revenue (Truth Social, 2025). Independent estimates, however, place actual tariff collections at about $219 billion since his first term, with projections reaching into the trillions only over much longer time horizons (Tax Foundation, 2025).
Analysts suggest that Trump’s figure may combine collected revenue with projections of broader economic impact. At the same time, several studies note that a portion of the costs has been passed on to U.S. consumers and businesses through higher prices (Forbes, 2025; Yahoo Finance, 2025). Ongoing litigation has added uncertainty, as a federal appeals court recently ruled that Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose broad tariffs exceeded presidential authority. More than $210 billion in tariffs are now in dispute and could be subject to refunds if the Supreme Court upholds the ruling (CNN, 2025).
Economists caution that widespread refunds could affect fiscal stability by requiring additional Treasury borrowing and raising yields, which recently reached 5% on the 30-year bond. Administration officials, however, argue that tariffs have attracted significant U.S. investment in areas like AI and advanced manufacturing, creating jobs and reinforcing Trump’s “America First” agenda.
Overall, while the $8 trillion figure remains contested, tariffs continue to be a central element of Trump’s economic policy—generating revenue, shaping trade dynamics, and fueling domestic investment, even as debates over accuracy, legality, and long-term costs persist.
2. India Trade Strains
The U.S.-India trade relationship has shifted after President Trump imposed 50% tariffs on Indian imports, citing energy ties with Russia and long-standing trade imbalances (BBC, 2025). Analysts estimate the measures could reduce India’s GDP by up to 0.8% and cut exports to the U.S. by $35 billion, affecting key sectors such as textiles, gems, and leather. So far, India has avoided direct retaliation and instead emphasized diplomacy, with Prime Minister Narendra Modi meeting Xi Jinping and Vladimir Putin at the Shanghai Cooperation Organization summit (The Guardian, 2025).
Data from the WTO shows that India’s average tariff on U.S. goods was 6.2% in 2024, compared with 2.4% applied by the U.S. (CNBC, 2025). Trump has dismissed calls to reduce duties, saying India’s earlier offers to cut tariffs came too late. In May, India proposed a limited ‘zero-for-zero’ deal on steel, auto parts, and pharmaceuticals, but talks did not progress.
Analysts suggest India’s most viable response is to diversify export markets and strengthen partnerships with Europe, Latin America, and Asia rather than escalate the trade dispute (BBC, 2025). While India’s recent outreach to China may ease immediate trade pressures, experts note that enduring strategic rivalries make deeper alignment unlikely. At the same time, U.S. officials stress that President Trump and Prime Minister Modi continue to maintain a working relationship.
3. Trump Sends Regards to Beijing
President Trump sent his “regards” to the Beijing summit attended by Chinese President Xi Jinping, Russian President Vladimir Putin, and North Korean leader Kim Jong Un (Truth Social, 2025). The September 3rd summit, marking the 80th anniversary of the end of World War II, was broadly viewed as a symbolic event. Trump suggested the meeting may have been intended as a response to him (AP News, 2025).
Experts note that the gathering reflects ongoing efforts to expand military, economic, and technological cooperation among China, Russia, and North Korea, strengthening their collective bargaining position with the West (CNN, 2025). While some observers interpret Trump’s acknowledgment as diplomatic courtesy or an attempt to project flexibility, others suggest the summit may also be a response to his policies, potentially signaling shifts in the global balance of power (The Guardian, 2025).
Politically, Trump’s message allows him to maintain a light diplomatic tone without escalating tensions, while still reinforcing U.S. visibility on the global stage. Looking ahead, deeper cooperation among China, Russia, and North Korea could significantly influence global trade and security dynamics, with implications for U.S. strategy in both Asia and Europe.