"While it is true that tariffs are estimated to bring in trillions of dollars to the U.S. economy in the longer term, the regime, which was fully announced in April, has yet to rake in that level of cash. Per U.S. Customs and Border Protection data, for the Fiscal Year 2025 updated as of August, America generated $195.9 billion in customs duties."
"we're going to be giving a nice dividend to the people, in addition to reducing debt. As you know, I inherited a lot of debt, but it's peanuts compared to the kind of numbers we're talking about. So we're going to be making a dividend to the people and additionally we're going to be able to reduce debt and as time goes by over the next two, three, four years, those numbers are going to go up."
Tariff policy has been presented as a source of trillions in revenue, refunds to Americans, and potential elimination of income tax. The tariff regime announced in April has not yet produced those trillions. U.S. Customs and Border Protection recorded $195.9 billion in customs duties for Fiscal Year 2025 as of August, with an October monthly record of $31.4 billion. Annual tariff receipts are likely in the $300–$400 billion range. Interest payments on the national debt totaled $1.22 trillion for FY25, far exceeding current tariff receipts and limiting tariffs' ability to reduce debt or fund large dividends.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]