"Trump's tariffs, the highest since the 1930s, have resulted in $64 billion in new revenue for the U.S. in the second quarter, a $47 billion increase over the previous year."
"The U.S. is on track to take in more than $100 billion due to Trump's tariffs, with customs collections reaching records of $113.3 billion for the first nine months of fiscal 2025."
"Tariffs have now grown into the fourth-largest revenue source for the federal government, making up about 5% of federal revenue, up from approximately 2% historically."
"The FT noted that American consumers are not shouldering the tariff burden alone, indicating a surprising development for many critics of Trump’s tariff policies."
President Trump's tariffs have drastically increased government revenue, yielding $64 billion in the second quarter alone, a $47 billion rise year-over-year. Major trading partners, aside from China and Canada, have not retaliated significantly. Projections suggest revenues could exceed $100 billion annually, with recent customs figures reflecting record collections of $113.3 billion. Tariffs now represent the fourth-largest revenue source for the federal government, rising to 5% of federal revenue from a historical 2%. Consumers are not wholly bearing the burden of these tariffs, as indicated by recent analyses.
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