A major shift is underway in U.S. fiscal dynamics — tariffs are surging.

🔹 $22.3B collected in May — highest monthly total ever

🔹 Up from $16.5B in April

🔹 $67.2B collected year-to-date

🔹 Customs & excise tax revenue more than doubled in two months

🔹 Tariffs now make up 4% of federal revenue, vs. 2% average in recent years

What This Signals:

🔸 The U.S. is increasingly relying on trade-based revenue

🔸 Potential inflationary pressure as import costs climb

🔸 Global trade flows may shift in response

🔸 Ripple effects possible across commodities, equities, and crypto

Tariff revenue is accelerating — and it could reshape the global macro landscape heading into H2 2025.

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