US EditionBessent says US tariff revenue could be well over $500 billion a year
- Scott Bessent said that U.S. customs duty revenues from tariffs may exceed $500 billion annually, with significant increases expected from July to September this year.
- The Congressional Budget Office estimated that tariff revenues could reduce federal deficits by $4 trillion over ten years, up from a previous estimate of $3 trillion.
- As of August 22, the government collected $29.6 billion in customs and excise taxes, matching the total for July.
- Bessent's previous estimate of $300 billion was deemed too low, indicating an upward trend in revenue collection attributed to tariffs.
15 Articles
15 Articles
US Tariffs Deliver Record $30 Billion in August, Deficit Outlook Brightens
Revenue from President Donald Trump’s tariffs hit a fresh high of nearly $30 billion in August, with Treasury Secretary Scott Bessent predicting even larger inflows ahead and forecasting that annual collections could top half a trillion dollars and help bring down the deficit. The Treasury’s latest Daily Statement showed $29.99 billion in tariff revenue as of Aug. 25, with a single-day haul of almost $22.5 billion on Aug. 22. “The best part: no …
Bessent says US tariff revenue could be well over $500 billion a year - Economy
US Treasury Secretary Scott Bessent said on Tuesday that customs duty revenues from President Donald Trump's tariffs may top US$500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.
Bessent: US Tariff Revenue Could Top $500B a Year
U.S. Treasury Secretary Scott Bessent said Tuesday that customs duty revenues from President Donald Trump's tariffs may surpass $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.
Colorado Springs Gazette
Bessent says US tariff revenue could be well over $500 billion a year
U.S. Treasury Secretary Scott Bessent said on Tuesday that customs duty revenues from President Donald Trump's tariffs may top $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.
The Daily Wire
stationgossip.com‘Substantial Jump’: U.S. Tariff Revenue Could Be Well Over $500 Billion A Year
U.S. Treasury Secretary Scott Bessent said on Tuesday that customs duty revenues from President Donald Trump’s tariffs may top $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.Bessent told a White House Cabinet meeting that his prior estimate of a $300 billion annual tariff collection rate was too low.“We had a substantial jump from July to August, and I think we’re going to see a bigger jump…
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