Stop believing Trumps lies.
The tariffs have not hit yet. Come talk about this next year after Trump's budget begins to take effect
Now let's look further into the link presented by non thinker.
"With total government receipts from October through June amounting to $4.01 trillion,
customs duties still account for less than three percent of federal government revenue, with individual income taxes, social security contributions and corporate income taxes accounting for the lion’s share (95 percent) of the total.
Even in June, with tariff revenue at an all-time high, import levies accounted for no more than five percent of total receipts. This shows that generating additional income to support the budget is not the main objective of the Trump administration’s tariff offensive. Instead, Trump views high tariffs (or the threat thereof) as a bargaining tool, as he seeks to re-negotiate trade agreements on his own terms."
According to economists, this will likely happen at the expense of U.S. consumers, who are expected to bear the brunt of the additional tariff costs. Goldman Sachs estimates that consumers will shoulder 70 percent of the additional costs, while U.S. businesses and foreign exporters will each assume 15 percent of the tariff burden.
This chart shows U.S. government receipts from customs duties (i.e. tariffs) since 1950.
www.statista.com
