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US President Donald Trump on Thursday said that the United States will receive around USD 600 billion in tariff revenue, adding that the amount is expected to be much higher next year.
Trump made these remarks during his address at the World Economic Forum (WEF) Summit in Davos, where he highlighted a sharp rise in investments flowing into the US. Speaking about investor sentiment, Trump said the United States is witnessing levels of investment. He said, "We're doing numbers in terms of people investing in the United States as we've never had before." He linked this surge to the November 5 election, stating that the election outcome provided clarity on his administration's approach to tariffs. According to Trump, tariffs are aimed at protecting the country, which he said had been taken advantage of for years. Trump noted that the estimated USD 600 billion in tariff revenue does not include additional investments by countries and companies setting up operations in the United States. He said, "We'll have, I'd say, USD 600 billion worth of tariff money coming in. And I think we're going to have maybe more than that. By next year, it'll be much more than that. That's not including the countries that, the countries and companies." Trump also shared the scale of corporate investments coming into the country. He said Apple is spending USD 650 billion, calling it a major commitment. He also mentioned that Toyota has announced plans to invest in the US. Recalling a meeting in Japan, Trump said Toyota's leadership confirmed the investment plans, describing them as part of a broader wave of global companies expanding their footprint in the US. Calling the developments "amazing," Trump said the scale of investment being seen now is unprecedented. "We've never had anything like it or close," he said, adding that no other country is witnessing similar momentum. He said that from an investment perspective, people are in "great shape" and claimed that many investors are making substantial money. Trump also said the US administration has provided a platform for innovators and business leaders to fully utilise their capabilities. "We have a lot of brilliant, genius people in this room, and you can put that genius to work," he said. In a lighter but candid moment, Trump remarked that he was both honoured and jealous of the success of some business leaders present. Referring to Apple, he again highlighted the scale of investment being led by CEO Tim Cook, reiterating the USD 650 billion figure and suggesting it could eventually rise further. Trump concluded by praising business leaders for their achievements, saying many have done an exceptional job, with several matching or exceeding expectations for investment and growth. (ANI)
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