- Trump has said the US is collecting $2 billion in daily tariff revenue, but the data shows otherwise.
- US Customs and Border Protection says its collected $500 million in reciprocal tariffs since April 5.
- The Treasury Department has also reported numbers significantly lower than Trump’s claims.
President Donald Trump has said repeatedly that the US is collecting massive amounts of money in tariffs, but the numbers aren’t adding up.
“We’re making a fortune with tariffs. $2 billion a day. Do you believe it? I was told $2 billion a day. This isn’t $35 million. That’s peanuts,” Trump said in a speech to the National Republican Congressional Committee on April 8. He again cited the $2 billion per day number at an executive order signing the same day.
But data from US Customs and Border Protections shows that the actual tariff revenue is just a small fraction of what Trump said it is.
A spokesperson for CBP told Business Insider that the agency has so far collected $500 million from Trump’s broad round of tariffs that went into place on April 5.
And in total, the agency said it has brought in $21 billion in tariff-related revenue through its enforcement of 15 presidential actions since Trump took office nearly three months ago. That works out to a little under $250 million a day over the 86 days since January 20.
It’s not just the CBP’s data that doesn’t match up with Trump’s numbers.
The Treasury Department’s daily deposit totals for “Customs and Certain Excise Taxes” reported over the seven weekdays since April 5 averages out to $227 million per day. The department’s month-to-date total as of Tuesday is around $2.3 billion and its year-to-date total for the fiscal year that started in October is about $55.5 billion.
Trump announced on April 2 the details of his long-promised tariffs policy, which included a baseline 10% tariff on nearly all countries and significantly higher tariffs on countries he deemed “the worst offenders” of trade deficits.
After a market meltdown and repeated calls for him to find an off-ramp to his sweeping policy, Trump announced last week that he would be pausing most tariffs, with the exception of China, for 90 days while his administration works out trade deals with dozens of countries.
The White House did not immediately respond to a request for comment from Business Insider.
Read the full article here
