Customs Revenue Surges Following Trump’s New Tariffs

Customs revenue soared in April, reaching at least $15 billion, driven by former President Donald Trump’s recent tariff measures. This figure represents a more than 60% increase from the previous month, according to data released Wednesday by the U.S. Treasury Department.

Payments Reflect March Imports

The data, drawn from the Daily Treasury Statement, includes payments from importers and customs brokers for goods that entered U.S. ports in March. Roughly two-thirds of these payments are made on the 15th business day of the month following importation.

Daily Tariff Collections Also Rise Sharply

Tariffs collected at the time of entry also rose by approximately 40% in April. This increase suggests heightened trade activity and stricter enforcement following the tariff adjustments.

Steel and Aluminum Among Most Impacted

Among the included tariffs are the 25% duties on steel and aluminum, in effect since March 12. These sectors have been central to Trump’s trade policy, aiming to shield key industries from foreign competition.

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Broad 10% Tariff Yet to Be Fully Reflected

The new general 10% tariff, announced on April 2, is not yet fully reflected in April’s data. May’s revenue figures are expected to rise further as payments for April imports are processed.

Forecast: Historic Record in Tariff Revenue

With March-related payments now accounted for, the Treasury projects revenue from customs duties and excise taxes to exceed $15.4 billion. If confirmed, this would mark the highest monthly amount ever in absolute dollar terms, according to Bloomberg estimates.

Modest Impact Compared to Federal Deficit

Despite the surge, this revenue accounts for only a small portion of the federal budget deficit. During the first six months of the fiscal year, the government accumulated a $1.31 trillion deficit, up 15% from the same period last year, adjusted for the fiscal calendar.