President Donald Trump’s tariff strategy continued to deliver a sharp revenue boost in May, with receipts from customs and excise taxes climbing past $22.3 billion, Treasury Department data shows.
A significant portion of this revenue arrived on May 22, when a single-day deposit of over $16.5 billion was recorded. This monthly total has already surpassed April’s $17.4 billion and March’s $9.6 billion.
Since January 1, government collections from tariffs and related taxes have exceeded $92 billion—highlighting a notable revenue surge during Trump’s second term, far outpacing his first term and recent years.
The increase in May reflects the full-month impact of Trump’s sweeping 10% tariffs, which were imposed on nearly all foreign imports starting April 5. Additional revenue gains followed tariff reductions for China and limited cuts for the UK, both introduced earlier this month.
Trump, addressing the public via social media on Tuesday, hinted at further trade measures. He noted his current pause on 50% tariffs targeting Europe and added, “I am empowered to ‘SET A DEAL’ for Trade into the United States if we are unable to make a deal.”
Looking ahead, the administration is considering new sector-specific tariffs on semiconductors, pharmaceuticals, and potentially even consumer tech giants like Apple and Samsung.
While the reported figures combine customs duties and certain excise taxes under one category, Treasury officials expect more detailed breakdowns in the coming weeks. Historically, customs duties comprise the majority of this total.
Despite representing only a small slice of overall federal revenues, Trump continues to champion tariffs as a key fiscal tool. “We’re going to make a lot of money [from tariffs], and that money’s going to be used to reduce taxes,” he said in an April 23 statement.
The latest figures reinforce Trump’s push for a tariff-driven trade policy, with further revenue and tax changes possibly on the horizon.
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News Source: Finance.yahoo.com
