U.S. tariff revenues hit a record $113 billion this fiscal year, driven by President Trump’s frequent new duties on major global economies.
In June alone, the U.S. collected over $27 billion—up 301% from the same month the previous year, according to Treasury data. Tariff revenues rose from $7.9 billion in January to $16.3 billion in April, with July also trending high.
This month, Trump announced new 30% tariffs on imports from Mexico and all 27 EU countries. Starting Aug. 1, the administration will impose 50% tariffs on Brazilian copper and 35% on Canadian goods, adding to similar measures on over 20 countries.
Treasury Secretary Scott Bessent and advisor Peter Navarro estimate tariffs could bring in over $300 billion in revenue. While the Trump administration highlights rising tariff revenue, U.S. businesses pay the import taxes, and the costs may ultimately be passed to consumers through higher prices.
NEW: Tariff revenues grew to a record $27.2 billion in June — producing a $27 billion federal budget SURPLUS for the month. pic.twitter.com/X2jJzb2GPS
— Rapid Response 47 (@RapidResponse47) July 11, 2025
