US EditionTrump 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.
- Treasury Secretary Scott Bessent announced the US has collected $100 billion in tariffs so far this year, projecting it could reach $300 billion by year-end.
- Major tariff collections began in Q2 after President Donald Trump implemented near-universal 10% duties, aiming to protect US industries and generate revenue, leading to record increases in tariff income.
- Treasury records show May 2025 customs duties reached $22.8 billion, nearly quadrupling from $6.2 billion a year earlier, indicating a significant collection surge.
- Treasury Secretary Scott Bessent projects US tariff revenue will hit $300 billion by year-end, with tariffs not contributing to inflation, supporting policy goals, according to the Congressional Budget Office estimate of $2.8 trillion over 10 years.
- Treasury outlook indicates $2.8 trillion in tariff revenue over 10 years, with the $300 billion target by year-end implying steeper future rate increases.
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Trump says steep copper tariffs in store as he broadens his trade war - Hawaii Tribune-Herald
WASHINGTON/TOKYO — U.S. President Donald Trump on Tuesday said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide. One day after he pressured 14 trading partners, including powerhouse U.S. suppliers like South Korea and Japan, with sharply higher tariffs, Trump reiterated his threat of 10% tariffs on products …
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.
Scott Bessent Says America Already on Track to Take in OVER $100 BILLION in Tariff Revenue This Year - Estimates "Well Over" $300 BILLION by End of Year as CBO Estimates Over $2.8 TRILLION Over 10 Years
Treasury Secretary Scott Bessent provided an update on the massive revenue the United States is bringing in as a result of President Trump’s tariffs during a cabinet meeting on Tuesday, revealing that the U.S.
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