#TrumpTariffs 📊 What’s in place now

On June 3–4, 2025, President Trump doubled tariffs on steel and aluminum imports to 50%, citing national security under Section 232. Most countries—including Canada, EU, Mexico—are affected, though the UK remains at 25% pending a trade deal expected by July 9 .

These new tariffs broadly apply to raw materials and derivatives—like canned-food packaging, automotive parts, and appliances .

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💰 Tariff revenue and budget

U.S. tariff collections soared to $37.8 billion in April–May 2025, including a record $22 billion in May alone—roughly 6% of monthly federal revenue .

The administration projects $2.5 trillion in tariff revenue over the next decade, potentially offsetting a planned $2.4 trillion deficit from proposed tax cuts .