The US raised $28 billion in tariff revenue in July, according to Treasury’s “Customs and Specific Excise Taxes” data. The total already surpasses the $25 billion record in June, accounting for only the tariffs collected until July 25th. So far, the US has collected more than $150 billion in tariff revenue in 2025.
The tariffs first imposed by President Donald Trump in April had generated more than $800 billion in revenue by June 2025. We will bring in “far more money than planned” through revenue from trade tariffs, Trump told reporters last month. Many experts view tariffs as a huge success. However, they disrupt the normal trade flows, making imports and exports expensive for businesses. Additionally, tariffs are known to cause price increases for several US products, characterized by ingredients and sourcing from overseas. One of the biggest markets expected to be hit hard by the reopening of tariffs is the automotive industry.
China is one country that will not contribute to US tariff revenue next month. Today, the US and China agreed to suspend new tariffs. Trump is currently showing positive economic ties between China and the US, which business groups are welcoming. He recently told reporters: “We’re doing well with China.” He also said President XI invited him to China, trying to make it happen “in a not too distant future.”
The US President is approaching a key deadline for customs talks to finalise some transactions. On Sunday, the president signed a contract with America’s largest trading partner, the European Union, days after announcing another agreement with Japan. However, many deals are still on the table.
