President Trump announced a $1,776 “warrior dividend” payment to nearly 1.5 million US service members in an address to the nation on Wednesday evening.
“In honor of our nation’s founding in 1776, we are sending every soldier $1,776,” Trump said, adding: “We made a lot more money than anybody thought because of tariffs, and the bill helped us along. Nobody deserves it more than our military.”
Trump did not say how the program would be enacted or funded. But even before the “warrior dividend,” Trump had floated at least nine different plans for how revenue from his tariffs could be spent, according to an analysis from Yahoo Finance’s Ben Werschkul.
The promises have included everything from sending Americans $2,000 tariff dividend checks to paying for the tax cuts that Republicans instituted over the summer.
But after lifting some tariffs on items like coffee, oranges, and cocoa, monthly tariff revenues dropped, from $31.35 billion received in October to $30.76 billion last month. That marks the first decrease since Trump began implementing the duties.
Looming over all the tariff talk is the Supreme Court decision that could not only invalidate most of the new tariffs, but possibly force the government to issue refunds of up to $100 billion.
The administration announced a $12 billion bailout fund for farmers on Dec. 9, as the agricultural sector has been hard hit by tariff fallout. That money “would not be possible without tariffs,” the president said.
The affordability focus comes amid an increased push on Americans’ price concerns. In a recent interview, Trump allowed he may look for “some” additional carveouts, weeks after his administration slashed tariffs on items like beef, coffee, and bananas.
Read more: What Trump’s tariffs mean for the economy and your wallet
The US has suspended implementation of the “technology prosperity deal” with the UK after growing frustration amid a lack of progress with London, according to the Financial Times. The deal aims to increase co-operation between the two countries in areas such as artificial intelligence and quantum computing.
Indonesia said that it hopes to conclude its trade agreement with the US by the end of 2025. Last week, reports emerged that the trade deal between Washington and Jakarta was at risk of collapse.
Trump gave the green light for Nvidia (NVDA) to sell some of its more powerful H200 chips to China. The US president said that China’s Xi Jinping had responded “positively” to the move.
Several US companies, such as Costco (COST), have filed lawsuits and claims to the US government for tariff refunds in the belief Trump’s tariffs will be struck down by the US Supreme Court. If the courts rule against Trump’s tariffs, the president may be forced to repay billions of dollars in collected revenue from imports.
LIVE 165 updates
Trump announces military ‘warrior dividend’ amid inflation woes
President Trump has announced what he called a “warrior dividend” for 1.45 million US service members. During an address to the nation on Wednesday, the US president said the country has made “a lot of money” from tariffs, and the checks are already on their way.
“In honor of our nation’s founding in 1776, we are sending every soldier $1,776,” Trump said.
“We made a lot more money than anybody thought because of tariffs, and the bill helped us along. Nobody deserves it more than our military, and I say congratulations to everybody,” he added.
Trump has been attempting to reassure the American people, who have been concerned recently due to the rising cost of living. Democrats have expressed voter fears, highlighting sluggish wage growth and high prices, blaming Trump’s tariffs as the main reason.
Bloomberg News reports:
This holiday season has not been very merry for some American shoppers, as many have found they need to dip into their savings to make Christmas gift purchases. Others are scrambling for bargains and feel that the overall economy is stuck, according to poll results from the AP-NORC.
The AP reports:
Swiss companies may be able to claim hundreds of millions of dollars from the US because Swiss tariffs will be applied retroactively, according to Switzerland’s economy minister Guy Parmelin.
President Trump slashed tariffs on Swiss imports from 39% to 15% this month, but only on the promise that Switzerland will invest $200 billion into the US.
The FT reports:
The US’s busiest seaport saw its imports tumble in November due to President Trump’s tariffs. The Port of Los Angeles handled 11.5% fewer shipments in November, as shippers built earlier inventories to avoid Trump tariffs.
Reuters reports:
Japan’s exports rose 6% in November compared to a year earlier. This rise was driven by shipments to the US, which had been stagnant since March, after Tokyo sealed a tariff deal with Washington during President Trump’s visit in October.
Japan and the US agreed to a 15% tariff on all imports from Tokyo, replacing the previous tariff amount of 25%. Trump heaped praise on Japan’s first female leader, Sanae Takaichi, during his visit, and said, “anything” they need, the US will help provide.
The AP reports:
Data from the US Customs and Border Protection (CBP) shows that the agency collected over $200 billion in revenue in 2025. According to statistics from the CBP, the total duties, taxes, and fees collected amounted to $216.7 billion. This amount represents the revenue taken by the CBP on imported goods.
This latest data comes as the US Supreme Court looks at whether President Trump’s tariffs have been implemented legally. It also comes at a time when many companies are considering or have filed lawsuits against the US government, hoping that Trump’s tariffs will be struck down by the court and may result in refunds from the US president’s tariff windfall.
The amount also refers to the new tariffs Trump imposed and not the ones he enacted during his first term.
Yahoo Finance’s Ben Werschkul noted that November’s receipts brought the total tariff revenue collected this calendar year to about $236.16 billion, with one month remaining. This data reflects 11 months from January to November 2025, whereas the CBP data refers to the fiscal year.
Earlier this year, Trump introduced his “Liberation Day” tariffs, hoping they would make America “wealthy again.” Since their inception, Trump’s tariffs have caused a stir among the international community, sparking a trade war between the US and China. This led to a one-year truce being agreed upon between the two sides in October.
“Between Jan. 20 and Dec. 15, 2025, U.S. Customs and Border Protection collected more than $200 billion in tariffs thanks to more than 40 executive orders put in place by President Donald Trump’s Administration,” CBP said, in a statement, according to CNBC.
The US has canceled the implementation of the “technology prosperity deal” with the UK, after growing frustrated with the progress of trade talks with London, according to the Financial Times.
The deal, which aims to foster cooperation between the two countries in areas such as AI, quantum computing, and nuclear energy, was struck with the UK during President Trump’s state visit to Britain this year.
The suspended deal has been confirmed by British officials, with one claiming that Trump wanted UK concessions in areas of trade outside the tech partnership.
This latest news on the US backing out of trade deals was also evident last week, when it was reported that Washington’s deal with Indonesia was on the verge of collapse, again due to a lack of progress in talks and a failure to implement what the US claimed was agreed upon.
The FT reports:
iRobot (IRBT), the maker of the Roomba vacuum cleaner, stock sank 73% on Monday after filing for bankruptcy protection on Sunday, saying that it would go private after being bought by Picea Robotics, its primary manufacturer. The company has faced increased competition from cheaper rivals and new US tariffs.
Reuters reports:
India has rejected claims made by the US that it is “dumping” rice in the United States, saying its rice exports are primarily premium-grade basmati, which typically commands higher prices than non-basmati varieties.
The US and India are attempting to restart trade negotiations, with US delegates traveling to New Delhi last week. Meanwhile, President Trump and India’s Prime Minister Narendra Modi spoke on the phone, a conversation that Modi described as “warm.”
This latest development comes after Trump accused India last week of dumping its shipments into US markets and said more tariffs on Indian rice may be imposed.
Reuters reports:
President Trump’s tariff reduction on Swiss imports to the US has helped the government raise its 2026 economic growth forecast.
The Swiss government said an agreement to lower US import tariffs on its products would mean its exporters would be hit less hard by trade barriers.
Reuters reports:
Sun, December 14, 2025 at 8:37 PM UTC China buys wheat from Argentina as Milei reduces tariffs to boost imports
China is buying wheat from Argentina for the first time in decades, with its farmers harvesting a record crop and President Javier Milei cutting tariffs on shipments, all in a bid to boost exports, Bloomberg reports.
Sat, December 13, 2025 at 9:33 PM UTC Trump voters give the president mixed reviews on how his tariffs are affecting their spending power
The majority of a group of 24 Trump voters told Reuters that they still support the president, and believe his economic policies will eventually lead to lower prices. While most acknowledged feeling the pain of the uptick in the costs of everyday goods, some argued President Trump did not have control over everyday costs.
However, not all of them agreed with how Trump had implemented his tariffs.
Reuters reports:
The revenue coming in from President Trump’s tariffs dipped in November, but the president’s oft-made promises for what he will do with the money have continued apace.
According to Yahoo Finance’s count, the president has floated at least nine different ideas for how tariff money could be used, stretching back to the 2024 campaign.
It’s a list of promises that ranges from sending Americans $2,000 tariff dividend checks to paying for the tax cuts that Republicans instituted this summer.
Trump reminded the crowd at a recent rally in Pennsylvania just how he feels about tariffs, saying of the word, “I love it more than any other word in the dictionary.” He only demoted it behind other words like religion and family, he said, at the behest of the “fake news.”
Yet the tariff revenue picture has gotten considerably more cloudy in recent weeks after the president bowed to Americans’ affordability concerns and lifted some tariffs on items like coffee, oranges, and cocoa that had seen price increases.
President Trump’s tariffs have dominated much of the news this year, from tit-for-tat levies to on-and-off trade negotiations, but one thing that has remained unstoppable amongst all the tariff noise has been China’s trade.
The Financial Times has looked at how China racked up a $1 trillion trade surplus, when most countries struggled.
The FT reports:
President Trump said last month that the American people are “paying something” for tariffs.
Democrats have tallied up what they say is the actual cost.
Democrats on the bicameral Joint Economic Committee (JEC) have estimated that, on average, US households are paying nearly $1,200 in additional costs due to Trump’s tariffs.
The Hill reports:
Indonesia hopes to conclude its trade agreement with the US by the end of 2025. This week, reports emerged that the trade deal between Washington and Jakarta was at risk of collapse due to Indonesia’s failure to implement its side of the agreement.
Growing tensions between the US and Indonesia have threatened to unravel ties between the two countries, prompting Jakarta to announce that it will send a delegation to Washington next week to discuss the matter and finalize what was agreed upon by leaders in July.
Coordinating Minister for Economic Affairs Airlangga Hartarto spoke to US Trade Representative Jamieson Greer on Thursday.
Bloomberg News reports: