Tariffs recorded a record $150 billion in revenue as Trump approached trade deadlines
Bank of America Global Markets President Jim Demare joins “Mornings with Maria” to consider the success of global markets despite early tariff uncertainty and President Donald Trump’s push for AI control in the US
As a president Donald Trump Tariff revenue has risen to a record $150 billion so far this year, entering the final day before his global trade deadline.
The US collected about $28 billion in customs in July, according to Treasury’s “Customs and Specific Excise Taxes” data. July figures based on data up to July 25th already surpass the monthly record for June of $27 billion.
January, Tax Income It more than doubled in April to $16.3 billion at about $7.9 billion.
Complete timeline of Trump’s tariff implementation strategies around the world
The revelation comes as Trump enters the final week of high stakes trade negotiations. On Sunday, the president signed a contract with european unionAmerica’s largest trading partner is just days after announcing another contract with Japan.
President Donald Trump announces his trade agreement with the EU at Trump Turnberry Golf Club in Turnberry, Scotland on July 27, 2025, and shakes hands with President Ursula von der Leyen of the European Commission. (Brendan Smialowski/AFP via Getty Images)
Secretary of the Treasury Scott Bett The administration says it predicts tariffs could generate more than $300 billion in revenue for the federal government. As the Trump administration promotes rising tariff revenue, it is US companies that pay these higher import taxes to the federal government.
However, the financial burden could ultimately be passed on to American consumers at a higher price.