Trump’s govt rakes in $87bn from tariffs

The United States (US) took in more revenue from tariffs in the first six months of 2025 than it did in all of 2024, according to data from the US Treasury compiled by AFP.

The more than $87bn from tariffs were taken in revenue through the end of June, compared with $79 billion collected in all of 2024.

This was according to the latest monthly data published on Wednesday.

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Since his return to the White House US President Donald Trump tore up the US post-WWII economic policy playbook of favouring free trade, slapping tariffs on trading partners, and on certain products like steel.

The US has subsequently reached deals with a number of countries that will see considerably higher tariffs apply than were in place, but for the most part also considerably lower than the highest rates that Trump threatened to impose.

The previous peak in tariffs was recorded in 2022 at $98 billion.

In June, tariff revenue came in at $26.6 billion, almost four times the amount collected in January.

Trump said Thursday that sweeping tariffs he has imposed on nations around the world were making the country “great & rich again” as governments raced to strike deals with Washington less than 24 hours before an August 1 deadline.

“ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE “HOTTEST” COUNTRY ANYWHERE IN THE WORLD,” he wrote on his Truth Social platform.

The deals that the US reached with trading partners will also go into effect on August one, as will a 50 percent levy on copper imports.

For around 80 countries, including the 27 members of the European Union, rates of between 11 and 50 percent are set to come into force.