Tariff revenues have totaled more than $113 billion since Trump entered office, helping to lead a budget surplus in June for the first time in nearly a decade

ariff revenue surged to an all-time high of $113 billion in the current fiscal year, according to Treasury Department data, as President Donald Trump ramps up his trade war by slapping new tariffs almost weekly on major global economies.

In June alone, the U.S. collected more than $27 billion in customs duties—marking the highest monthly total this year and a 301% increase compared to June of last year.

📊 In January, tariff collections stood at $7.9 billion.
By April, they had more than doubled to $16.3 billion.
Now, July is shaping up to be another major revenue month.

Trump Unveils New Round of Tariffs

President Trump recently announced a 30% tariff on imports from Mexico and all 27 European Union nations, set to take effect next month.

Additionally, the administration is preparing to:

• Impose 50% tariffs on copper imports and related goods from Brazil, and
• Introduce a 35% tariff on products from Canada.

These moves—scheduled to start August 1—add to a growing list of more than 20 countries already subject to elevated U.S. trade barriers.

📸 Shipping containers at the Port of Houston on Feb. 10, 2025, amid Trump’s trade crackdown.
(Brandon Bell / Getty Images)

White House Eyes $300 Billion in Tariff Revenue

Treasury Secretary Scott Bessent and trade advisor Peter Navarro have projected that tariff revenues could ultimately top $300 billion, as the administration continues leveraging trade policy as a financial tool.

Despite the record-setting numbers, it’s American businesses—not foreign exporters—who pay the import taxes directly to the U.S. government.

Economists caution that these costs often trickle down to consumers, potentially driving higher prices on everyday goods.