by WorldTribune Staff, April 28, 2025 Real World News
The United States in April has collected more revenue from tariffs and excise taxes than any month in American history.
Analysts believe May could break April’s record for customs revenue. / The White House / WikimediaU.S. Customs duty collections have skyrocketed more than 60% this month, according to newly released Treasury Department data.
As the first wave of President Donald Trump’s newly implemented tariffs hit, the federal government this month has collected at least $15.4 billion in customs duties. That’s $6 billion more than in March.
Trump on April 2 announced the tariffs, which include 25% tariff on imported steel and a 10% universal tariff on imports.
Daily customs payments rose nearly 40% in April compared to the previous month.
Analysts also pointed out that the April figures primarily capture the steel tariff increase, while the broader 10% tariffs will be more fully reflected in May’s numbers.
“There is a chance that the money from tariffs could be so great that it would replace (the income tax). You know, in the old days, about 1870 to 1913, the tariffs were the only form of money. And that’s when our nation was relatively the richest. We were the richest,” Trump said in an interview with Fox News.
Meanwhile, Treasury Secretary Scott Bessent said it’s “up to China” to deescalate the trade war.
“As I’ve repeatedly said, I believe it’s up to China to deescalate because they sell five times more to us than we sell to them, so these 125% tariffs are unsustainable,” he told CNBC.
Bessent said recent moves by China to exempt certain U.S. goods from tariffs showed progress. But he warned he has “an escalation ladder in my back pocket and we’re very anxious not to have to use it.”
The U.S. has made “very good” progress with many of its top trading partners, with Bessent singling out India. “I would guess that India would be one of the first trade deals we would sign.”
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Trump tariffs reap record revenues added by Editor Two on April 28, 2025
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