U.S. President Donald Trump announced on Tuesday that the country is generating $2 billion daily from tariffs. He made this statement during an event at the White House but did not provide specific details to support his claim. Since taking office in January, Trump has implemented a series of tariffs on various goods imported from other countries.
These tariffs are a key component of his trade policy aimed at protecting American industries. However, data from the Treasury Department tells a different story regarding tariff revenue. According to the Treasury’s daily reports, the average daily deposits from “Customs and Certain Excise Taxes” have been around $200 million thus far in the month.
This figure suggests a significant discrepancy between Trump’s assertion and the actual revenue generated. For context, during the entire month of February, the Treasury collected approximately $7.25 billion in customs duties, reflecting the total sum from tariffs imposed. The federal government’s monthly budget statement for March is set to be released on Thursday, which will provide updated revenue figures and potentially clarify the ongoing discussion about tariff income.
This updated data will be closely watched, as it could either reinforce or contradict the claims made by the President regarding the benefits of tariff collections. As conversations around tariffs and trade continue, it remains critical to assess the accurate financial impact these policies are having on the U.S. economy. The results of the upcoming budget statement may influence future decisions and rhetoric surrounding trade and tariffs.