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Tariff Revenue Hits Record $23 Billion in May
Customs Duties Surge 270% Year Over Year, Narrowing Monthly Budget Gap
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LampLighter
Joined 2013/04/13Visited 2025/06/12
Status: user
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... 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. ...
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 | Reply
@#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 | Reply
And, um... who is actually paying those Tariffs?
taxfoundation.org
#3 | Posted by Corky at 2025-06-11 10:12 PM | Reply
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 | Reply
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