Several countries owe the United States money. The list below does not include all countries that have U.S. debt. The figures are from January of 2023 and April of 2024. The amounts of money owed could have changed since then due to several economic factors, including shifts in investment strategies, geopolitical considerations, and changes in the U.S. fiscal policy. Here is the most recent data of several countries which are in debt to the U.S:
- Japan is around $1.1 trillion.
- China is approximately $749.0 billion.
- The United Kingdom is $690.2 billion
- Luxembourg is $ 373.5 billion
- Canada is $328.7 billion.
- Switzerland is $290.5 billion
- The Cayman Islands is $285.3 billion
- Ireland is 253.4
- Hong Kong is $ 226.8 billion
- Brazil is $214 billion
- Singapore is $187.6 billion
- France is 183.9 billion
- Saudi Arabia is $111 billion
- South Korea is $ 105.8 billion
- Norway is $104.4 billion
- Germany is $91.3 billion
- and lastly, Bermuda is $77.4 billion.
During a press conference at Trump’s Mar-a-Lago home last week, he promised to impose “substantial tariffs” against Mexico and Canada if they do not lower the flow of drugs and migrants that cross their borders into the U.S. Trump also vowed to bring in the golden age for America. He added that the United States of America has access to natural resources that no one else has.
On the campaign trail, Trump suggested imposing a minimum of 10 to 20 percent tax on all imported goods and a 60 percent tax or more on all imports from China. Last month, Trump stated he would put a 25 percent tariff on all imports from Canada and Mexico, which will go into effect on Jan 20th (his first day in office). He also suggested abolishing the income tax and replacing it with tariffs—the U.S. government’s primary source of revenue. Currently, the tariff collection is under the authority of the U.S. Customs and Border Protection, which is a part of the Department of Homeland Security.
Recently, the Trump team released a new “Make America Wealthy Again” video, which was first obtained by Breitbart News. In the video, Trump stated, “We’ll make America wealthy again, and we’ll make America affordable again.” The video highlights Trump’s promises to Make America Wealthy Again by reducing energy and grocery costs.
During the Trump administration’s first term, they achieved substantial economic success, but it ended during the past four years under the Biden administration. Americans have suffered from record-breaking inflation and gas prices under the Biden administration. The Biden administration seemed more focused on wasting billions of dollars on the Inflation Reduction Act, which did not act as a reducer of inflation. Instead, the act included the idea that over half of that money should go to green energy initiatives. According to Breitbart, even President Biden admitted that the Inflation Reduction Act had nothing to do with reducing inflation. The Trump administration is dedicated to Making America Wealthy again through several strategies, which include lowering costs, building the External Revenue Service, and abolishing several government agencies.
