Tag Archives: tariff revenue

Policies Make A Difference

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On June 28th, Yahoo Finance posted an article about the impact of President Trump’s tariffs. If nothing else, the numbers prove that taxes are not the only way to get funds into the United States Treasury.

The article reports:

President Trump’s tariffs are pouring billions more into US coffers in June, putting the revenue supplied by importers on pace for another monthly record.

The latest measure of government receipts for “Customs and Certain Excise Taxes” stood at almost $27 billion for the month of June, according to the Treasury Department’s latest daily statement dated June 25.

The monthly total is likely to rise only slightly in the coming days, with importers often depositing their tariff duties in a single day and the June 24 statement showing a massive daily deposit of more than $19.9 billion.

June’s total so far has already topped May’s total haul of about $22 billion — not to mention April and March totals of $17.4 billion and $9.6 billion, respectively.

It was a continuation of revenue spikes seen during Trump’s second term in office that are dwarfing counts from recent history as well as the amounts collected during Trump’s first term.

All told, more than $121 billion has flowed into government coffers since the start of this fiscal year.

Commerce Secretary Howard Lutnick touted the pace of deposits earlier this week in a social media post that criticized Federal Reserve Chair Jerome Powell.

“What he avoids discussing is the incredible revenue increase the US has received from these tariffs,” Lutnick said in his post, suggesting the US’s “current run rate” is for more than $30 billion per month.

The article concludes:

The June uptick in revenues, in any case, is on a pace of roughly $1 billion a day in revenue and that remains a tiny fraction of all monthly government spending.

In May — the most recent full month of data available — total government receipts totaled $371 billion.

In recent decades, tariff revenue has tended to constitute about 2% of federal revenue. The surge in recent months has changed that, with revenues now accounting for closer to 4%-5% of that revenue.

Now if Congress would finally cut spending, we might be able to get rid of our massive interest payments.

Income From Tariffs

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On Friday, Zero Hedge posted an article about some of the impact of President Trump’s tariffs.

The article reports:

U.S. tariff revenues reached an all-time high in May as President Donald Trump’s trade policies started to fill government coffers.

According to the May 28 Daily Treasury Statement, revenues from “customs and certain excise taxes” climbed to a record high of $23.28 billion this month, up from $17.431 billion in April.

May was the first full month that Trump’s levies took effect. Most of the tax collections occurred on May 22, exceeding $16 billion.

Shortly after his April 2 “Liberation Day” announcement, the administration imposed 10 percent tariffs on nearly every country in the world.

Fiscal year-to-date—the federal government’s fiscal year runs from October 1 to September 30—tariff revenues total $93.85 billion.

Almost half of that revenue has been collected in April and May of this year.

The article concludes:

U.S. Trade Representative Jamieson Greer testifies before the Senate Finance Committee in the Dirksen Senate Office Building in Washington on April 8, 2025. Kayla Bartkowski/Getty Images

“All these things are on the table,” Greer said. “The reality is, we have this enormous trade deficit. It got worse over the Biden years, and if we don’t fix the global trading system, it’s just going to get even worse going forward. We have to fix it.”

According to the Census Bureau, the U.S. goods trade deficit narrowed sharply in April, declining to $87.6 billion. This is down 46 percent from the record high of $162.3 billion registered in March.

The article does mention that as companies move their manufacturing to America, the tariff income will decrease. However, as that happens, employment in America will increase, individual and corporate tax revenue will increase, and the expense of unemployment will decrease.

The tariffs are a part of the economy moving in the right direction.