Bessent: US Tariff Revenue Could Top $500B a Year

[Billiejeens]

U.S. Treasury Secretary Scott Bessent said Tuesday that customs duty revenues from President Donald Trump's tariffs may surpass $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.

Bessent told a White House Cabinet meeting that his prior estimate of a $300 billion annual tariff collection rate was too low.

"We had a substantial jump from July to August, and I think we're going to see a bigger jump from August to September," Bessent said. "So I think we could be on our way well over half a trillion, maybe towards a trillion-dollar number. This administration, your administration, has made a meaningful dent in the budget deficit."

Tariff revenue would offset the deficit increases triggered by the Republicans' tax-cut and spending bill passed this year. CBO estimated this bill would widen the deficit by $3.4 trillion over the next decade.

Trump's tariffs drove July U.S. customs duty collections up by nearly $21 billion from the $7 billion collected in July 2024 and about even with the $20 billion increase registered in June. Significant increases in tariff rates for nearly all trading partners kicked in on August 7.

https://www.newsmax.com/finance/streettalk/scott-bessent-tariff-revenue/2025/08/26/id/1224027/?ns_mail_uid=8b9eb87a-9dca-4572-9849-d1110f8f0987&ns_mail_job=DM830146_08262025&s=acs&dkt_nbr=010504m6yown

BJ-
The new Golden Age
America is back.

 

[Moonglow]

U.S. Treasury Secretary Scott Bessent said Tuesday that customs duty revenues from President Donald Trump's tariffs may surpass $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.

Bessent told a White House Cabinet meeting that his prior estimate of a $300 billion annual tariff collection rate was too low.

"We had a substantial jump from July to August, and I think we're going to see a bigger jump from August to September," Bessent said. "So I think we could be on our way well over half a trillion, maybe towards a trillion-dollar number. This administration, your administration, has made a meaningful dent in the budget deficit."

Tariff revenue would offset the deficit increases triggered by the Republicans' tax-cut and spending bill passed this year. CBO estimated this bill would widen the deficit by $3.4 trillion over the next decade.

Trump's tariffs drove July U.S. customs duty collections up by nearly $21 billion from the $7 billion collected in July 2024 and about even with the $20 billion increase registered in June. Significant increases in tariff rates for nearly all trading partners kicked in on August 7.

https://www.newsmax.com/finance/streettalk/scott-bessent-tariff-revenue/2025/08/26/id/1224027/?ns_mail_uid=8b9eb87a-9dca-4572-9849-d1110f8f0987&ns_mail_job=DM830146_08262025&s=acs&dkt_nbr=010504m6yown

BJ-
The new Golden Age
America is back.

Yet the debt just hit 38 trillion an increase of one trillion from 37 trillion in July.

 

[TNHarley]

Congress ***** up the deficit and debt, so we have to pay for it. Nice.

 

[Moonglow]

Thanks for the massive tax increase.

 

[Marener]

The fact that Trump can unilaterally increase taxes by $500 billion per year screams that it’s unconstitutional.

 

[Billiejeens]

The fact that Trump can unilaterally increase taxes by $500 billion per year screams that it’s unconstitutional.

Cry harder

 

[Mac1958]

I hope MAGA is thanking American employers for this massive windfall.

Even if MAGA somehow STILL doesn't understand that's who's writing these fat checks.

 

[Billiejeens]

Bessent also noted that the Congressional Budget Office's upwardly revised estimate last week of federal revenue from Trump's tariffs, forecasting that it could reduce federal deficits by $4 trillion over 10 years. "And I would expect that that number could go up from here," Bessent added.

 

[TNHarley]

The fact that Trump can unilaterally increase taxes by $500 billion per year screams that it’s unconstitutional.

Congress gave part of their job away after the Great Depression.

 

[Marener]

Cry harder

Hey dipshit. If Americans are paying $500 billion in extra tariffs, it means that we aren’t bringing manufacturing back to the states.

Was the purpose of the tariffs to take money from the small businesses and working class?

 

[Mac1958]

The fact that Trump can unilaterally increase taxes by $500 billion per year screams that it’s unconstitutional.

The Republican party used to be pro-business. Now they're cheering the way it's footing the bill.

 

[TNHarley]

Bessent also noted that the Congressional Budget Office's upwardly revised estimate last week of federal revenue from Trump's tariffs, forecasting that it could reduce federal deficits by $4 trillion over 10 years. "And I would expect that that number could go up from here," Bessent added.

Hell yeah! Go American consumers!

 

[Marener]

Congress gave part of their job away after the Great Depression.

It raises the major questions doctrine as well as conflicting with the precedent that a branch of government cannot give away the totality of their authority.

 

[Billiejeens]

Hell yeah! Go American consumers!

We are GREAT!

(I thought that the debt was a huge issue for you)

 

[kyzr]

Hey dipshit. If Americans are paying $500 billion in extra tariffs, it means that we aren’t bringing manufacturing back to the states. Was the purpose of the tariffs to take money from the small businesses and working class?

Americans aren't paying $500b a year in extra tariffs dumbass.

 

[TNHarley]

We are GREAT!

(I thought that the debt was a huge issue for you)

It is. But I dont want to pay it down from price increases. I want it done the right way. They way that is actually worth bragging about. Through budgets and cuts.

 

[Moonglow]

Bessent also noted that the Congressional Budget Office's upwardly revised estimate last week of federal revenue from Trump's tariffs, forecasting that it could reduce federal deficits by $4 trillion over 10 years. "And I would expect that that number could go up from here," Bessent added.

The debt just went to 38trillion

 

[Hafar1014]

U.S. Treasury Secretary Scott Bessent said Tuesday that customs duty revenues from President Donald Trump's tariffs may surpass $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.

Bessent told a White House Cabinet meeting that his prior estimate of a $300 billion annual tariff collection rate was too low.

"We had a substantial jump from July to August, and I think we're going to see a bigger jump from August to September," Bessent said. "So I think we could be on our way well over half a trillion, maybe towards a trillion-dollar number. This administration, your administration, has made a meaningful dent in the budget deficit."

Tariff revenue would offset the deficit increases triggered by the Republicans' tax-cut and spending bill passed this year. CBO estimated this bill would widen the deficit by $3.4 trillion over the next decade.

Trump's tariffs drove July U.S. customs duty collections up by nearly $21 billion from the $7 billion collected in July 2024 and about even with the $20 billion increase registered in June. Significant increases in tariff rates for nearly all trading partners kicked in on August 7.

https://www.newsmax.com/finance/streettalk/scott-bessent-tariff-revenue/2025/08/26/id/1224027/?ns_mail_uid=8b9eb87a-9dca-4572-9849-d1110f8f0987&ns_mail_job=DM830146_08262025&s=acs&dkt_nbr=010504m6yown

BJ-
The new Golden Age
America is back.

Tax cuts increased tax revenues. The CBO doesnt account for increased GDP and they are always wrong. The tariffs will end the deficit in a few years. Then we pay down the debt

 

[Moonglow]

Americans aren't paying $500b a year in extra tariffs dumbass.

• A "$500 billion" tariff revenue figure is not accurate. The $500 billion figure seems to be a misinterpretation of a different potential tariff policy proposal. While recent Trump administration tariffs implemented in 2025 are extensive, the conventional revenue projections over ten years are in the low trillions, not $500 billion annually.
• The money goes to the U.S. Treasury. Tariffs are not paid by the foreign countries or companies exporting the goods. They are paid by American importers to the U.S. government at the border.
• The costs are passed to American consumers. Importers often pass the cost of these tariffs on to consumers through higher prices on goods, eroding households' purchasing power.
• Tracking the Economic Impact of the Trump Tariffs.
• In total, the imposed tariffs would reduce market income by 1.5 percent in 2026 (1.1 percent from the IEEPA tariffs and 0.3 percent from the other tariffs, totals don’t sum due to rounding) and amount to an average tax increase per US household of $1,304 in 2025 and $1,588 in 2026. However, if the IEEPA tariffs are permanently enjoined, the tax increases would be smaller at $292 in 2025 and $387 in 2026. Our estimates of reductions in market income understate the totality of effects Americans will face, as they exclude the loss of choice and higher prices for substitute goods.
• As of April 4, China, Canada, and the European Union have announced or imposed retaliatory tariffs altogether affecting $330 billion of US exports. Imposed and threatened retaliation as of April 10 will reduce US GDP by another 0.2 percent and 10-year revenue by $132 billion on a dynamic basis.
• In 2025, Trump’s imposed and scheduled tariffs will increase federal tax revenues by $172.1 billion, or 0.57 percent of GDP, making the tariffs the largest tax hike since 1993. The tariffs are larger than the tax increases enacted under President Barack Obama and President George H.W. Bush

 

[Marener]

Americans aren't paying $500b a year in extra tariffs dumbass.

Tell Bessent. It’s his prediction.