United States tariff revenues reached an all-time high in the month of May, thanks to Donald Trump‘s policies leveling the international trade playing field, according to new data.
The May 28 Daily Treasury Statement showed that in May, the first full month for Donald Trump‘s levies, the U.S. revenues from “customs and certain excise taxes” increased to a record high of $23.28 billion. That is a significant increase from $17.431 billion of the same revenues during the month of April, The Epoch Times explained. On May 22 alone, tax collections brought in $16 billion.
Most countries currently have at least a 10% tariff on their goods, which in some cases is lower than the tariffs they impose on our goods.
Customs and Border Protection (CBP) said in a report that it has been “using all our enforcement and revenue collection authorities” to enforce the tariffs. “CBP enforces tariffs through a combination of legal authority, advanced systems, and operational procedures designed to ensure that duties owed are paid. We have fulfilled the demand and remain committed to facilitating legitimate trade while upholding a robust enforcement posture.” Epoch Times explained:
Fiscal year-to-date—the federal government’s fiscal year runs from October 1 to September 30—tariff revenues total $93.85 billion… Last month, the CBP conducted 33 audits, leading to the collection of $117 million in duties and fees owed to the U.S. government. Officials found that imported goods had been “improperly declared.”
The new data on high tariff revenues comes amid an ongoing battle between the administration and overreaching courts about the tariffs. While the U.S. Court of International Trade ruled unanimously that Donald Trump‘s tariffs on dozens of countries had to be lifted this past week, the very next day, a federal appeals court ruled the opposite and temporarily allowed the tariffs to stay in place. However, the initial encroaching decision is only delayed and not permanently overruled.
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The revenue data also came out just before Donald Trump announced new tariffs to boost American domestic steel and aluminum manufacturing. “It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th,” Trump announced last week. He received a rousing cheer from the crowd of Pittsburgh steelworkers to whom he was speaking when he announced the new tariffs. Trump‘s tariff policies are certainly likely to appeal to blue-collar workers ahead of the midterm elections.
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It is to be hoped that Trump will continue to stand firm on tariffs, increasing instead of decreasing them, and that courts will not keep interfering, so that he can follow through on another tentative promise of his to abolish the federal income tax, a proposed move that would have greatly pleased the Founding Fathers. Make countries hostile to us, like China and Germany, pay tariffs just as they tariff our goods, instead of taxing the prosperity out of so many Americans.
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