Trump's tariff revenue has already topped 22 billion in May.

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Trump's tariff revenue has already topped 22 billion in May.

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2025 May 27, 10:44am 171 views 7 comments

by Al_Sharpton_for_President ➕follow (5) ignore (6)

President Trump's tariffs continued to be felt by importers in May with a measure of government receipts for "Customs and Certain Excise Taxes" already topping $22.3 billion this month, according to Treasury Department data.

The monthly total is likely to rise only slightly in the coming days, with importers often depositing their tariff duties largely in a single day. A massive deposit of more than $16.5 billion appeared in government coffers on May 22.

May's total so far has already topped April's full-month haul of $17.4 billion — not to mention March's haul of $9.6 billion.

It was a continuation of revenue spikes seen during Trump's second term in office, which dwarfed recent history and Trump's first term.

All told, more than $92 billion has flowed into government coffers since Jan. 1.

May's surge in revenue came as many of Trump's duties were only felt for an entire month after his biggest tariffs — 10% duties on nearly every country in the world — took effect on April 5.

The haul also came after other new concessions from Trump this month that saw a slashing of tariffs on China and a limited lowering of duties on the UK.

Trump added Tuesday in a social media post that more duties could be coming, saying of his decision to delay 50% tariffs on Europe for now, "Remember, I am empowered to 'SET A DEAL' for Trade into the United States if we are unable to make a deal.”

The president is also threatening new tariffs in the weeks and months ahead, including new sector-specific tariffs to be announced on items such as semiconductors and pharmaceuticals and possible tariffs aimed at companies like Apple (AAPL) and Samsung (005930.KS).

The data is significant but could be slightly overstated, with the Treasury Department reporting both customs duties and certain excise taxes as a single category from the Department of Homeland Security.

Excise taxes are different from customs duties. More precise data for only customs duties is expected to be available in a few weeks. But customs duties have historically made up the lion's share of the combined figure.

A sliver of total government receipts

Trump himself has regularly touted the surge of government tariff receipts, suggesting the US government is on its way to a repeat of an era in US history that ended more than a century ago when tariffs made up a significant portion of government revenues.

"We're going to make a lot of money [from tariffs] and that money's going to be used to reduce taxes," Trump said on April 23. "We're going to get big, big tax breaks."

Tariff revenues have been used to argue for the advancement of the GOP "big, beautiful bill" as a way to offset the trillions in new red ink that could follow. Trump has even toyed with the idea that revenue would allow the elimination of income taxes entirely

May's uptick in revenues, however, likely still represents less than $1 billion a day and a tiny fraction of all monthly government spending.

In April — the most recent full month of data available — the flood of income tax returns brought in over $850 billion to government coffers.

In recent decades, tariff revenue has tended to constitute about 2% of federal revenue. The surge in recent months has only slightly changed that, with revenues now accounting for closer to 4%.

https://finance.yahoo.com/news/trumps-tariff-revenue-has-already-topped-22-billion-in-may-163443155.html

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Patrick 2025 May 27, 11:20am

https://www.coffeeandcovid.com/p/humphrey-howled-tuesday-may-27-2025

Let’s check in on Trump’s tariff negotiations. Corporate media is diligently working to conceal the fact that Trump and his team are making significant progress, as shown by three different articles that appeared in this morning’s headlines. Not that you’d know from reading them. ...

Yesterday’s first story ran in the NYT under the headline, “Japan Will Spend $6.3 Billion to Shield Its Economy From Trump’s Tariffs.” Japan, the world’s fifth-largest economy (overtaken just this year by India), is spending it own taxpayers’ money to “reimburse businesses and households adversely affected by the tariffs.” In other words, they’re taking money from taxpayers, then giving it back to them, and this somehow makes them better off. Make it make sense. ...

The ‘news’ was Japan’s approval, under intense political pressure, of its mega-bailout package aimed mostly at its key auto industry, which faces 25% U.S. tariffs. We then discover that Trump’s negotiating team has said that term is non-negotiable. For now, at least.

The tariffs are hammering Toyota, Nissan, and Honda. Toyota, for example, is forecasting a $1.3 billion hit just for April and May. The article also offhandedly reported that Nissan announced plans to move some of its production to the U.S.— a cornerstone of Trump’s policy and an unequivocal success.

Japan’s wider economy, already pressured by declining demographics, massive debt (over 250% of GDP), and a sagging yen, now faces “overall growth that could be more than halved.” In other words, Trump’s negotiators have found Japan’s pressure point, and are bearing down on it hard.

The article cited more good news for the U.S. Last month, Spain also deployed a bigger, $15 billion bailout package, to buy more time to negotiate a tariff deal with America. Canada has also “earmarked billions” for tariff relief. And Germany’s parliament is currently debating its own industrial bailout package. What all this means is that other countries are being forced to pay to stay in the game. ...

Trump is winning. He’s crushing it. And he’s doing it without a treaty, without years of State Department dickering, without Congress, and without a war. It’s unbelievable. ...

Our second tariff story ran in the Wall Street Journal yesterday, headlined, “Dow Futures Rally After European Union Agrees to Fast-Track Trade Talks.” The sub-headline explained, “President Trump agreed over the weekend to delay 50% tariffs on the EU until July 9th.” Agreed with whom? Reading further, we find it was with obsequious EU Presidentress Ursula Von der Leyen, who until this weekend was busy vowing to resist American imperialism to the last Ukrainian. ...

Trump’s pressure on Europe is arguably more intense and painful than the pressure being applied to Japan. The EU isn’t one country— it’s 27 governments with 27 different domestic agendas. Trump’s pressure exploits those divisions. France wants protections for agriculture, Germany cares about manufacturing, Eastern states just want to stay out of the crossfire. ...

Third, and finally for today, reality is setting in for the world’s second-largest economy and in media’s reporting rooms. The New York Times ran a gloomy China story this morning, headlined “China’s Soft Spot in Trade War With Trump: Risk of Huge Job Loss.” As we proceed, remember corporate media called the tariffs “economic suicide,” promised that Trump’s China tariffs would cause U.S. prices to skyrocket, and sneered that the Chinese held all the cards. ...

So, if China keeps retaliating with its own tariffs, it will destroy its own importers. But if it doesn’t retaliate, it looks weak. Lose-lose. Would you rather get Fauci’s face tattooed on your forehead, or drink a bucket of monkey snot?

Last month, China stopped publishing all employment figures. (Nothing shows confidence like hiding the scoreboard.) China’s growing unemployment disaster is a political powder keg. Even though the Chinese meekly submitted to lockdowns, they become much more restless when their jobs disappear. ...

The last time mass unemployment and inflation combined in China was 1989. The result was Tiananmen Square. The CCP hasn’t forgotten. Which is why it is directing factory owners to lay off workers “quietly,” and explains why the government is fudging unemployment stats to calm the crowds.

How much longer can they bail themselves out?

Once again, as in Japan and the EU, Trump has found China’s exposed nerve and is standing on it in steel-tipped boots, grinding away with the weight of the world’s largest economy behind him. Negotiations continue, but China is holding a hand of low cards.

Trump is practically making it look easy.

PanicanDemoralizer 2025 May 27, 12:07pm

EXTERNAL Revenue Service.

Instead of taxing productive Americans, have a voluntary tax on choosing imported goods.

HeadSet 2025 May 27, 6:24pm

AmericanKulak says

EXTERNAL Revenue Service.

Instead of taxing productive Americans, have a voluntary tax on choosing imported goods.

Yes, and do not forget elasticity of demand. Apple already sells its products at what the market will bear, so any tariff cost will be eaten by Apple.