The U.S. Customs and Border Protection (CBP) has collected more than $106 billion in customs revenue since Donald Trump assumed the presidency, with a significant portion attributed to the administration’s tariffs.
What Happened: The Department of Homeland Security (DHS) announced on Monday that the CBP has amassed $106.1 billion in customs revenue since Trump’s inauguration. A significant portion of this revenue—$81.5 billion—was generated by tariffs imposed during the Trump Administration.
The CBP has achieved a success rate of over 99.5% in collecting customs duties and tariffs. The department has taken enforcement measures that led to recovering an additional $16.3 billion in revenue by targeting over 35,000 shipments identified as high-risk for duty evasion or requiring further payments.
A Senior DHS official stated, "We are proud to help President Trump make America richer and reverse a broken trade system that resulted in millions of jobs shipped overseas and made us dependent on foreign adversaries for essential goods.”
Meanwhile, Axios reported that from the start of the current fiscal year through the end of May, tariff collections are about 65% higher compared to the same period last year, according to Treasury data. Furthermore, the overall effective tariff rate has reached its highest point since the late 1930s, according to the Yale Budget Lab.
SEE ALSO: Mike Pence’s Advocacy Group Launches Campaign To Extend Trump’s 2017 Tax Cuts: Report
Why It Matters: The Trump administration’s trade policies have been a subject of global debate. The administration’s tariffs have been a significant source of revenue for the U.S. government. In April, U.S. customs revenue surged to an all-time high, delivering at least $15 billion in customs duties for the month — a more than 60% increase over previous periods.
However, the administration’s approach to trade has also sparked criticism. French President Emmanuel Macron recently criticized powerful nations using tariffs as "blackmail" instruments, calling trade wars an "aberration."
Moreover, the Trump administration’s trade strategy has reportedly shifted, with the U.S. now favoring narrower agreements to avoid the reimposition of U.S. tariffs. This change in strategy is a departure from the White House's initial plan to secure 90 trade deals during the 90-day pause in reciprocal tariffs announced by President Trump in April.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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