Tariffs continue to bolster the U.S. Treasury, with July’s collections reaching a record $29 billion—the highest this year, fresh data from the Treasury Department revealed.
The report showed a sustained uptick in revenue: $17.4 billion in April, climbing to $23.9 billion in May, and then $28 billion in June, before July’s surge pushed year-to-date receipts past $152 billion.
These rising figures precede significant adjustments to U.S. trade policy, with new global tariff rates set to be implemented this Thursday. The White House recently postponed their introduction from August 1 to August 7, citing the need for U.S. Customs and Border Protection to prepare for the next phase of collections.
President Donald Trump, during the countdown to these changes, finalized substantial new trade deals with major partners including the European Union, Japan, and South Korea. So far, 11 of America’s 15 largest trading partners have agreed to wide-ranging accords.
While administration officials, such as Treasury Secretary Scott Bessent, have forecasted that tariffs could yield over $300 billion for federal coffers, the duties are ultimately paid by U.S. companies. Those added expenses often trickle down to consumers through higher prices.
