U.S. Customs duty collections soared more than 60% in April, marking the highest monthly revenue haul in terms of dollars in American history.
According to newly released Treasury Department data reviewed by Bloomberg, at least $15.4 billion in customs duties and related excise taxes flowed into federal coffers last month, $6 billion more than the month before. This spike in revenue coincides with the first wave of President Donald Trump’s newly implemented tariffs taking effect. Those include a renewed 25% tariff on steel and the “universal” 10% tariff Trump announced on April 2.
Daily collections — payments made at the time goods enter the country — rose nearly 40% in April compared to March.
While the April numbers reflect the 25% increase, it does not account for most of the 10% universal tariffs. May’s total could climb even higher as the full scope of the tariffs kicks in, Bloomberg reports.
Trump has long championed tariffs as a key component of his “America First” economic strategy not only as a way to protect American manufacturers from cheap foreign imports, but to generate revenue.
Critics in D.C. flatly rejected the idea of tariffs as a legitimate trade strategy, but before the income tax was introduced in 1913, tariffs were the primary way America funded its government.
Trump has said repeatedly that one of his goals is to reduce reliance on income taxes — and tariff revenue is part of how he plans to do it.
”There is a chance that the money from tariffs could be so great that it would replace (the income tax). You know, in the old days, about 1870 to 1913, the tariffs were the only form of money. And that’s when our nation was relatively the richest. We were the richest,” President Trump told Fox News.
However, $15 billion is a relatively small sum compared with the entirety of the bill the country owes. The national debt is currently more than $36 trillion. During the first half of the fiscal year, Washington racked up a $1.31 trillion deficit.
Economists who have doubted Trump’s trade strategy from the beginning are still not convinced. “If you get to $100 billion to $200 billion, you’ll be pretty lucky,” Mark Zandi, chief economist at Moody’s, told CNBC earlier this month.
I can’t recall the dollar amount but the lying mainstream media had been reporting tariff revenue very much lower recently. It’s very difficult for President Trump to get any credit with the corrupt press the US is now saddled with.
Prices are only going up not down. He is certainly not helping the people. Trump appears to be Satan’s children trojan horse. The country of Satan’s children are bragging they hijacked and control the US government. Trump is now directly supporting convicted terrorist. What does that make him and the United States government? If you guess terrorist, you are correct. Soon living in the United States will be theft of your life, not just Despicable Maine. Get ready when they audit Fort Knox and find nothing in it. Then roll out digital currency. I am leaving this country now it is hijacked. It will never get any better from here.
Democrats piss on my leg and tell me it’s raining .
Democrats piss on my leg and tell me the Republicans are doing it .
Democrats are destroying Maine just like they are still trying to do to America.
Democrats NEED TO BE DEFEATED IN 2026 if Maine is to be saved .
Dear despicable maine, see-ya!
I haven’t seen 1 single thing at a higher price since the tariffs. Unlike bidens record high inflation where almost everything was inflated. If there comes a time when things get expensive so be it, at least its for a purpose. I’ll just not buy it, same as when inflation was out of control. I have pity for the posters like Dis Me who are so infected by TDS that they’ll never understand, its a shame their life is controlled by big brother and not their own eyes.
Just bought the same Chinese made hunting boots from Amazon that i bought last fall. $10 bucks cheaper. Tariffs work.
Do you buy Smithfield bacon.
In one of the biggest takeovers in U.S. food industry history, WH Group—formerly Shuanghui International—secured Smithfield Foods in 2013. The deal was worth $4.7 billion and included more than 146,000 acres of farmland across the United States. The company remains based in Virginia but is fully Chinese-owned.
15 billion dollars? That must be getting the politicians salivating. What will happen to this money? Disappearing act?
Don’t worry all the Money will be GIVEN to ” The Sons of Abraham”