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US Tariff Revenue Surges to $87.2 Billion in First Half of the Year
Summary: According to reports, US government data shows that tariff revenue in the US soared to $87.2 billion in the first half of this year. Since the Trump administration implemented so-called retaliatory tariffs in April, tariff revenue has rapidly increased. In June alone, tariff revenue reached $26.6 billion, four times the usual level. Analysis from the ...
According to reports, US government data shows that tariff revenue in the US soared to $87.2 billion in the first half of this year. Since the Trump administration implemented so-called retaliatory tariffs in April, tariff revenue has rapidly increased. In June alone, tariff revenue reached $26.6 billion, four times the usual level. Analysis from the US Customs and Border Protection agency indicates that as of the end of June, 10% of the baseline tariffs have generated over $17.7 billion in revenue, with specific tariffs on the automotive industry contributing over $10.7 billion. Estimates from Yale University's Budget Lab show that as of Sunday, the overall average effective tariff rate in the US has reached 20.6%, the highest level since 1910. At the same time, the proportion of tariffs in the total value of US imports is also rapidly increasing. The new round of retaliatory tariffs set to take effect on August 1st is expected to further increase this number.
