Wednesday, June 11, 2025

Tariff Revenue Hits Record $23 Billion in May

Customs Duties Surge 270% Year Over Year, Narrowing Monthly Budget Gap

Comments

More from the article ...

... U.S. customs duties climbed to a record in May, helping shrink the budget deficit for the month, while doubts remain about the persistence of the inflows as the Trump administration negotiates with trading partners and faces a judicial challenge over its levies.

The Treasury Department recorded $23 billion in customs-duties revenue for May, according to the agency's monthly budget statement. This represents a $17 billion, or 270%, increase from the same month a year earlier.

The fiscal deficit was $316 billion for May, down 17% from the same month a year before, after accounting for calendar-year differences. For the first eight months of the fiscal year, the deficit was $1.37 trillion. Taking account of revenue deferred from 2023 to 2024 and for the calendar differences, the year-to-date gap is 1% smaller, an agency official told reporters. ...


#1 | Posted by LampLighter at 2025-06-11 09:34 PM

@#1 ... U.S. customs duties climbed to a record in May, ...

Did China pay for that increase, as Pres Trump has asserted?

If not, who?

#2 | Posted by LampLighter at 2025-06-11 09:35 PM

And, um... who is actually paying those Tariffs?

taxfoundation.org

#3 | Posted by Corky at 2025-06-11 10:12 PM

Three days ago, I was at the market looking into the specialty cheese case. There were a bunch of 8oz cheeses from Vermont and Wisconsin for $7.49. Then I saw another 8oz package, obviously affected by the tariffs. The price startled me:

$27.99

#4 | Posted by Danforth at 2025-06-12 03:18 PM

"Record"

One, that's like the Yankees being "world champions" of a game only we play...

Two, all that "record" cost will be repaid by us.

#5 | Posted by jpw at 2025-06-13 10:03 AM

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