The U.S. government's tariff revenue reached a record $22.3 billion in May 2025, up from $16.5 billion in April. So far this year, the government has collected about $67.2 billion in tariff revenue, accounting for 4% of total federal revenue, up from an average of 2% in previous years.
This increase is primarily due to the new round of large-scale tariff policies implemented by the Trump administration during its second term. In early 2025, Trump announced a uniform tariff of 10% on all imported goods and higher tariffs on goods from countries such as China, Canada, and Mexico. For example, the total tariff on Chinese goods reached 145%.
These tariff policies are aimed at increasing federal revenue to support the fiscal plan proposed by Trump, which includes extending the tax cuts from 2017. It is estimated that if these tariff policies continue to be implemented, they may bring in about $140 billion for the entire year of 2025, accumulating to $1.5 trillion by 2035.
However, these tariff policies have also sparked widespread controversy and legal challenges. In May 2025, the U.S. International Trade Court ruled that some of Trump's tariff policies exceeded the statutory authority of the president, but the federal appeals court subsequently temporarily restored these tariffs, and the case is still under review.
Additionally, economists warn that tariffs may drive up consumer goods prices, increase inflationary pressure, and impose a heavier burden on low-income families. Therefore, although tariff revenue has increased, its long-term economic impact still needs to be carefully assessed.
