Citing the successful nature of his tariffs imposed on foreign trade partners, U.S. President Donald Trump said Sunday the revenue raised by those import taxes will be used to pay down the national debt, invest in the U.S., and send direct payments to Americans.

"People that are against Tariffs are FOOLS!" the president wrote on his Truth Social platform. "We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k’s are Highest EVER."

ADDITIONAL REPORTING | What happens to revenue brought in by Trump's tariffs?

"We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion," President Trump added. "Record investment in the USA, plants and factories going up all over the place.

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