America's customs revenue has exceeded $100 billion since President Donald Trump returned to the White House, according to Axios.
Of that figure, the vast majority is from tariffs, the outlet reported, as the president's trade strategy begins to pay off in a big way for the federal government.
According to Customs and Border Protection documents viewed by Axios, since Jan. 20, the total customs revenue generated from actions such as tariffs, taxes, and fees climbed to $106.1 billion as of Friday.
More than two-thirds of that, or $85.1 billion, is from tariffs that Trump has imposed on foreign countries looking to do business in America.
For the current fiscal year through the end of May, Treasury data shows that collections are up 65% from the year prior during the same period.
The Yale Budget Lab found that U.S. consumers face an overall average effective tariff rate of 15.8% – the highest since 1936. After American consumption behavior shifts, the average tariff rate will be 14.7% — the highest since 1938.
If current levels continue unabated, annual customs revenue collections are reportedly expected to beat the Trump administration's projections.
Axios reported that Treasury Secretary Scott Bessent and trade adviser Peter Navarro previously estimated that Trump's tariffs could bring in upward of $300 billion in revenue.
In a recent analysis, Apollo Global Management chief economist Torsten Slok admitted that the president's tariffs, which he warned would trigger a recession by the summer, may have been more strategic than he initially believed.
Slok wrote that although the uncertainty surrounding U.S. trade policy has started to affect the economy, Trump could lower the tariffs on most of America's trading partners while using the levies to increase federal revenue.
"This [extending the reciprocal tariff deadline] would seem like a victory for the world and yet would produce $400 billion of annual revenue for U.S. taxpayers," Slok wrote. "Trade partners will be happy with only 10% tariffs, and U.S. tax revenue will go up. Maybe the administration has outsmarted all of us."
Nicole Weatherholtz ✉
Nicole Weatherholtz, a Newsmax general assignment reporter covers news, politics, and culture. She is a National Newspaper Association award-winning journalist.
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