Trump claims tariffs rake in $3B a day — but it’s – Business News
President Trump’s reciprocal tariffs have added a whole of $500 million to US coffers since April 5 — a fraction of the $3 billion-a-day that he bragged his sweeping levies have generated.
The precise figures had been launched Wednesday by Customs and Border Protection, the company charged with accumulating all tariffs, together with Trump’s “reciprocal” levies, on the level of entry.
CBP stated the $500 million from reciprocal tariffs – taxes US companies pay on international imports – contributed to “more than $21 billion in total tariff revenue from 15 presidential trade actions implemented since Jan 20, 2025.”
Customs and Border Protection stated it has collected over $500 million from the new reciprocal tariffs since April 5. AFP by way of Getty Images
That’s about $245 million for every of the 86 days, by way of Wednesday, since Trump took workplace — counting separate duties imposed on aluminum and metal imports, and international automobiles.
Trump introduced 10% across-the-board tariffs and stiffer reciprocal taxes on key trading companions during his “Liberation Day” occasion on the White House on April 2. The 10% tariffs went into impact April 5. The 25% levy on international vehicles kicked in April 3.
He paused the upper reciprocal tariffs on all international locations on April 9 — aside from China, which was slapped with a 145% obligation after Beijing retaliated with a 125% on US items.
The most not too long ago obtainable figures from the Treasury Department additionally fall far short of the president’s estimate.
According to its each day assertion of whole deposits, the division recorded $250 million below “Customs and Certain Excise Taxes” on Tuesday, after netting $305 million the earlier day.
The discrepancy between what Trump has claimed has been introduced in and what the underside line exhibits may very well be due, in giant half, to a lower in imports.
US import bookings on large container ships dropped 64% from March 24-31 to April 1-8, in response to container-tracking software program supplier Vizion.
President Trump on April 2 unveiled his new reciprocal tariffs during a press convention in the Rose Garden. REUTERS
Many firms rushed to stockpile items in the weeks forward of the tariffs. Now, some could also be delaying orders whereas they use up that stock and await readability from Trump’s 90-day pause on the stiff reciprocal tariffs.
Small business house owners have stated they’re pushing off orders for international items as a result of they will’t afford the hefty prices.
Amazon has canceled some orders from China for summer time season gadgets, whereas toymakers are pushing aside their Christmas imports.
