Silk Summary:
From Fox Business:
Trump’s tariff revenues are hitting record-highs, generating $100 billion so far this year
“Tariff revenues topped a record $113 billion for the first time during the fiscal year – a revelation that comes as President Donald Trump imposes near-weekly duties on some of the world’s largest economies.
The U.S. received more than $27 billion in customs duties in June, the highest figure so far this year, according to the Treasury Department’s “Customs and Certain Excise Taxes” data. Compared to last June, this year’s figures are up 301%.
In January, tariff revenues hovered around $7.9 billion and more than doubled in April to $16.3 billion. Meanwhile, July is on track to continue as a revenue contributor for the federal government.
So far this month, Trump has announced plans to impose a 30% tariff on imports from Mexico and all 27 countries that make up the European Union.”
