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Trump’s tariffs benefiting US?
The tariffs introduced by US President Donald Trump remain a subject of debate. While the administration insists they are advantageous for the US, the picture is more nuanced. To support his position, Trump points to fresh data from the US Treasury Department, showing that customs revenue surged 91% in April. An impressive number but one that tells only part of the story.
According to the Treasury’s estimates, customs duties collected in April 2025 totaled $15.63 billion, a sharp increase compared to $8.17 billion in March. It is nearly a twofold jump following the implementation of Trump’s elevated import tariffs.
The spike in revenue coincided with the enforcement of newly approved import duties, part of a sweeping trade policy initiated by the White House. Since the start of the current fiscal year on October 1, 2024, total customs revenue has reached $59.2 billion, roughly $15 billion more than during the same period in the previous fiscal year.
The gains stem from an executive order signed by President Trump that raised tariffs on imports from 185 countries. The base rate was set at 10%, but for many countries, including some of Washington’s closest allies, the tariffs were substantially higher.
However, Trump later adjusted the policy, declaring a 90-day pause and reducing the base tariff for imports from 75 countries, signaling a more flexible approach amid rising global tensions.
Whether the tariffs are a net benefit or long-term liability for the US economy remains unclear. For now, the short-term fiscal effect is positive, but broader effects on trade relations, prices, and investment remain to be seen.
Published 19 May 2025
© InstaFintech Group
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© InstaFintech Group
