After Trump's Second Term Began
Tariff Revenue Up 65% from Last Year
This Year's Tariff Revenue Expected to Surpass Government Projections
According to a report by the US media outlet Axios on June 30 (local time), the United States has collected over $100 billion in tariff revenue since President Donald Trump took office.
According to data from Customs and Border Protection (CBP), from January 20 of this year, when President Trump was inaugurated, through June 27, tariff revenue totaled $106.1 billion (approximately 143.2562 trillion won). Of this, $81.5 billion came from tariffs imposed after President Trump took office. Tariff revenue refers to all revenue collected at the border, with tariffs specifically being taxes levied on imported goods.
Previously, on April 9, President Trump implemented differentiated reciprocal tariffs on 57 economic entities (56 countries plus the European Union), including South Korea. Thirteen hours later, he reversed the original decision and decided to postpone it for 90 days. The grace period will end on the 8th of this month.
According to Treasury Department data, tariff revenue for this fiscal year through the end of May increased by about 65% compared to the same period last year. Given this trend, annual tariff revenue for this year is expected to exceed government projections. Treasury Secretary Scott Besant and White House Trade and Manufacturing Policy Advisor Peter Navarro forecasted that the United States' annual tariff revenue could reach at least $300 billion and up to $600 billion.
According to the Yale University Budget Research Institute, the current effective tariff rate in the United States is 15.6%. This is the highest level since the late 1930s. In the 1930s, during the Great Depression, the United States introduced the Smoot-Hawley Tariff Act, which caused the effective tariff rate to jump above 20%.
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