Trump Says His Tariffs Collected ‘Trillions’ In Revenue—Here’s The Real Figure#TrumpTariffs

President Donald Trump on Sunday said his tariffs, most of which an appellate court ruled illegal, have brought in “trillions of dollars”—which matches estimates from some economists for revenues his levies could generate, but over the next decade, not so far this year.

Key Facts

“Without tariffs, and all of the TRILLIONS OF DOLLARS we have already taken in, our Country would be completely destroyed, and our military power would be instantly obliterated,” Trump wrote on Truth Social.

Trump claimed earlier this month that “trillions of dollars are being taken in on tariffs” and his levies have “not caused inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers.”

Trump leaves out that tariffs are paid by U.S. companies to import foreign goods, with those costs eventually paid by U.S. consumers.

Trump’s latest comments on his tariffs follow a ruling late Friday by the U.S. Court of Appeals, as the court wrote Trump overstepped his authority by issuing his reciprocal tariffs, a power the majority opinion said was “vested exclusively” as a “core Congressional power.”

The ruling prohibiting Trump’s tariffs won’t take effect until Oct. 14, allowing the Trump administration time to appeal to the Supreme Court.

How Much Revenue Has The U.s. Collected From Trump’s Tariffs?

The U.S. has collected $142 billion from tariff revenue so far this fiscal year, which ends in September, according to Treasury Department data released earlier this month. Since Trump’s tariffs took effect in April, his levies have generated about $96 billion in revenue, after customs duties jumped to $28 billion in July, marking an annual increase of 273%. Customs duties accounted for $27 billion in revenue for June, $22 billion in May and $16 billion in April. Before Trump’s tariffs were announced, customs duties totaled $8 billion in March and $7 billion in February and January. to be seen.