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Trump says steep copper tariffs in store as he broadens his trade war

UNITED STATES, JUL 9 – Treasury Secretary Scott Bessent said tariff collections accelerated after major duties began in Q2, with expected revenue tripling to $300 billion by year-end under current trade policies.

  • On Tuesday, Treasury Secretary Scott Bessent said the US has collected $100 billion in tariffs so far and may reach $300 billion by the end of 2025.
  • The surge in tariff revenue began in Q2 after President Donald Trump imposed widespread 10% duties to protect US industries and boost federal income.
  • Treasury records show $22.8 billion in May customs duties, nearly four times higher than last year's $6.2 billion, indicating a significant surge in tariff collection.
  • US tariff revenue has reached $100 billion this year and may hit $300 billion by year-end, boosting policy goals while reports show tariffs have not increased inflation.
  • Treasury outlook suggests $2.8 trillion in tariff income over a decade, with the $300 billion target by end-2025 implying steeper future rate increases.
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ReutersReuters
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Center

Trump says steep copper tariffs in store as he broadens his trade war

Trump's remarks could inject further instability into a global economy that has been shaken by the tariffs he has imposed or threatened on imports to the world's largest consumer market.

·United Kingdom
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Lean Left

Washington. U.S. President Donald Trump yesterday extended his global trade war by announcing a 50 percent tariff on imported copper and saying that there will soon be taxes on semiconductors and pharmaceuticals of up to 200 percent, with which he has threatened for a long time.

·Mexico
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Thai Newsroom broke the news in on Tuesday, July 8, 2025.
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