US President Donald Trump on Thursday said the United States is set to receive around $600 billion in tariff revenue, adding that the figure is expected to be “much more than that” next year.
Trump made the remarks while addressing the World Economic Forum (WEF) Summit in Davos, where he also highlighted what he described as an unprecedented surge in investments flowing into the country.
Linking the rise in investment to the November 5 election outcome, Trump said it had brought clarity about his administration’s tariff policy. “We're doing numbers in terms of people investing in the United States as we've never had before,” he said, adding that tariffs were aimed at protecting the country, which he claimed had been taken advantage of for years.
Trump noted that the estimated $600 billion in tariff revenue does not include investments by countries and companies setting up operations in the US. “We'll have, I'd say, $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,” he said.
Highlighting corporate investments, Trump said
Apple is spending $650 billion in the US, calling it a major commitment, and added that Toyota has also announced plans to invest in the country, according to news agency ANI.
Recalling a meeting in Japan, he said Toyota’s leadership had confirmed the investment plans as part of a broader trend of global companies expanding their US footprint.
Calling the developments “amazing,” Trump said, “We've never had anything like it or close,” adding that no other country was witnessing similar investment momentum.
He claimed that from an investment perspective, people were in “great shape” and many investors were making substantial money.
In Davos, Trump also waived tariffs planned on European allies following what he described as a framework deal over Greenland, though no details of the agreement were disclosed.
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