How Much Revenue Has The U.s. Collected From Trump’s Tariffs?

How Much Revenue Has The U.s. Collected From Trump’s Tariffs? The U.S. has collected $142 billion from tariff revenue so far this fiscal year, which ends in September, according to Treasury Department data released earlier this month. Since Trump’s tariffs took effect in April, his levies have generated about $96 billion in revenue, after customs duties jumped to $28 billion in July, marking an annual increase of 273%. Customs duties accounted for $27 billion in revenue for June, $22 billion in May and $16 billion in April. Before Trump’s tariffs were announced, customs duties totaled $8 billion in March and $7 billion in February and January. Customs duties are tariffs or taxes paid by importers in international trade, meaning companies, businesses or individuals in the U.S. are required to pay levies as goods enter the country.

Trump said last month his administration would “consider” sending checks based on the revenue his tariffs have generated. Sen. Josh Hawley, R-Mo., introduced a bill after Trump signaled interest in a rebate check, which would send at least $600 to each eligible adult and dependent child this year. A larger rebate check would be issued if tariff revenue exceeds projections, according to a draft of the bill, which reduces the rate by 5% to about $570 for joint filers with an adjusted gross income above $150,000, a head of household with an income above $112,500 or an individual whose income exceeds $75,000. The bill has yet to be considered. HON. BRIAN SCAVO