Revenues from Donald Trump’s tariffs have hit record highs as of the start of this month, as the president announced more tariffs, especially on hostile countries.
Tariff revenues reached a record level of $113 billion, representing a significant financial boost and hitting a new high for this year, Fox Business reported. Democrats, who prefer taxing Americans to tariffing foreigners, have bewailed the tariffs nonstop, but Trump’s optimism about the revenues seems to be justified so far. We need fewer taxes on Americans and more tariffs on belligerent nations that hate the USA. And companies that dislike the tariffs should bring operations back to America.
A June 30 press release from the Department of Homeland Security (DHS) previously boasted that the majority of the tariff revenues collected this year are due to Trump‘s tariffs, with which he is leveling the international trade playing field and penalizing hostile countries.
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Fox News added more details on the newest numbers:
The U.S. received more than $27 billion in customs duties in June, the highest figure so far this year, according to the Treasury Department's "Customs and Certain Excise Taxes" data. Compared to last June, this year's figures are up 301%.
In January, tariff revenues hovered around $7.9 billion and more than doubled in April to $16.3 billion. Meanwhile, July is on track to continue as a revenue contributor for the federal government.
Even before the newest revenue numbers were announced, DHS was celebrating the tariffs’ success. “We are proud to help President Trump make America richer and reverse a broken trade system that resulted in millions of jobs shipped overseas and made us dependent on foreign adversaries for essential goods,” said an unnamed senior official. “This administration will always put the American first.”
The U.S. slapped all the European Union countries and Mexico with 27% tariffs this month, Fox stated, and Trump imposed a particularly hefty 50% tariff on Brazil for attacking freedom of speech and undermining free elections. “Goods transshipped to evade this 50% Tariff will be subject to that higher Tariff,” Trump wrote the Brazilian president Lula before warning, “If for any reason you decide to raise your Tariffs, then, whatever number you choose to raise them by, will be added onto the 50% that we charge.”
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Many countries around the world have long imposed significant tariffs on American goods while demanding no reciprocal tariffs on their goods. Trump was determined to change that rigged and unjust system. That naturally infuriated the countries that had become accustomed to taking advantage of us, and Democrats always take part in those criticizing in America, but the change was actually long overdue.
Trump also aims to bring manufacturing back to America and encourage both companies and customers to prefer goods made in America. As Trump’s Commerce Secretary Howard Lutnick reminded anti-tariff gripers, “Remember, there’s a ZERO percent tariff on all goods made in the USA!”
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