U.S. has already collected $100 billion from tariffs

U.S. President Donald Trump said the country has already earned over $100 billion from tariffs and claimed they have not significantly harmed the economy. He made the comments during a press briefing at the White House, streamed on the residence’s official YouTube channel.

“We’ve already collected over $100 billion. We’ll collect hundreds of billions — and tariffs haven’t really impacted our country that much,” Trump said in response to a question about expected revenues following the introduction of new tariffs on August 1.

According to Trump, $25 billion in tariff revenue was collected just in the past month.

Financial Times reported that U.S. customs duties reached a record $64 billion in the second quarter of 2025 — up $47 billion compared to the same period last year. The U.S. Treasury attributes this increase to the country’s strong trade position.

Economists argue the U.S. benefits from its central role in the global economy. “Unlike the 1930s, today’s global system is centered around the U.S. as the economic hub. This makes retaliatory tariffs less appealing economically, even if politically justified,” said Martha Bengoa, a professor of international economics at the City University of New York.

Last week, Trump announced the introduction of 30% tariffs on goods from the European Union and Mexico, effective August 1. These will apply in addition to existing sectoral tariffs. The administration says the rates could be raised if foreign governments respond in kind — or lowered if agreements are reached.