From Daily Mail: The US raked in an astonishing $37.8 billion from import duties in April and May as Donald Trump’s tariffs began to kick in.
The staggering figures show the real cost for businesses, but the real benefits to the Treasury’s coffers.
The government raked in $15.6 billion in April, before leaping 42 percent to $22.2 billion in May, according to Treasury data.
Trump announced his first tariffs, dubbed “Liberation Day,” on April 2.
Most trading partners now face a 10% levy, while China’s is 55% after talks.
Other notable levies include a 25% duty on imported car parts, causing automakers to raise prices and relocate to US plants.
Here are some of other important developments regarding the tariffs thus far:
CHINA
• May government duties accounted for 6% of total income.
• Chinese imports have dropped since Trump’s tariffs, leading to a decrease in import duty revenue.
• Historically, most import duties came from taxing Chinese goods.
CANADA AND MEXICO
• Imports declined in April.
CUSTOMS AND BORDER PROTECTION
• Increased tariffs led to enforce policies more strictly this year.
• They recently reported an extra $23 billion from a compliance review.
Duties generated $37.8 billion in revenue for the U.S. in April and May, after President Trump imposed new tariffs on steel, aluminum, cars and goods from China, Mexico and Canada pic.twitter.com/p8FLv9IsSU
— unusual_whales (@unusual_whales) June 19, 2025
China’s export growth slowed to a three-month low as US tariffs began to significantly impact trade. Imports dropped sharply, and factory-gate deflation worsened to its deepest level in two years, signaling mounting pressure on China’s economy https://t.co/63EQjVifwV pic.twitter.com/YvLmQPxV1L
— Reuters (@Reuters) June 9, 2025
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