US Collects $100 Billion in Tariff Income, on Track for $300 Billion Annual Revenue
Treasury Secretary Scott Bessent announced on Tuesday that the US has brought in $100 billion in revenue since President Donald Trump has implemented a number of tariffs imposed on goods imported into the US and that the country will bring in about $300 billion this year.
Bessent told those in a Tuesday Cabinet meeting, “We’ve taken in about $100 billion in tariff income thus far this year, and that’s with the major tariffs not having started until the second quarter. So we could expect that could be over $300 billion by the end of the year.”
The staggering figures don’t stop there. Bessent added that over the next decade, these tariffs will generate approximately $2.8 trillion in government revenue. That’s $2.8 trillion that won’t come from increased taxes on American citizens.
This success comes as Trump announced a series of tariffs on countries around the world, set to take effect on August 1, 2025. The president has been clear there will be no extensions to this deadline. “There has been no change to this date, and there will be no change,” Trump stated on Truth Social.
Remember when Democrats and their media allies claimed tariffs would destroy the economy? They called Trump’s approach “dangerous,” “reckless,” and “harmful to Americans.” What they really meant was: this threatens our monopoly on deciding how the government collects money.
For decades, Democrats have relied on a simple formula—when they want more money for their programs, they raise taxes on American citizens and businesses. The idea that revenue could come from anywhere else threatens their entire approach to governance.
Bessent told those in a Tuesday Cabinet meeting, “We’ve taken in about $100 billion in tariff income thus far this year, and that’s with the major tariffs not having started until the second quarter. So we could expect that could be over $300 billion by the end of the year.”
The staggering figures don’t stop there. Bessent added that over the next decade, these tariffs will generate approximately $2.8 trillion in government revenue. That’s $2.8 trillion that won’t come from increased taxes on American citizens.
This success comes as Trump announced a series of tariffs on countries around the world, set to take effect on August 1, 2025. The president has been clear there will be no extensions to this deadline. “There has been no change to this date, and there will be no change,” Trump stated on Truth Social.
Remember when Democrats and their media allies claimed tariffs would destroy the economy? They called Trump’s approach “dangerous,” “reckless,” and “harmful to Americans.” What they really meant was: this threatens our monopoly on deciding how the government collects money.
For decades, Democrats have relied on a simple formula—when they want more money for their programs, they raise taxes on American citizens and businesses. The idea that revenue could come from anywhere else threatens their entire approach to governance.
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