US takes in $87 billion from tariffs in first half of 2025
The more than $87 billion in tariff revenue taken in through the end of June, compared with $79 billion collected in all of 2024, according to the latest monthly data published on Wednesday.
Since his return to the White House US President Donald Trump tore up the US post-WWII economic policy playbook of favoring free trade, slapping tariffs on trading partners and on certain products like steel.
The US has subsequently reached deals with a number of countries that will see considerably higher tariffs apply than were in place, but for the most part also considerably lower than the highest rates that Trump threatened to impose.
The previous peak in tariffs was recorded in 2022 at $98 billion.
In June, tariff revenue came in at $26.6 billion, almost four times the amount collected in January.
Trump said Thursday that sweeping tariffs he has imposed on nations around the world were making the country 'great & rich again' as governments raced to strike deals with Washington less than 24 hours before an August 1 deadline.
'ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE 'HOTTEST' COUNTRY ANYWHERE IN THE WORLD,' he wrote on his Truth Social platform.
The deals that the US reached with trading partners will also go into effect on August one, as will a 50 percent levy on copper imports.
For around 80 countries, including the 27 members of the European Union, rates of between 11 and 50 percent are set to come into force.
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