- Trump claimed the U.S. is incomes $2 billion a day from tariffs, however provided no particulars to again it up.
- Treasury knowledge exhibits each day customs tax income is averaging nearer to $200 million, far beneath Trump’s determine.
- February’s whole customs duties reached $7.25 billion, with March knowledge set to be launched quickly.
Throughout a White Home occasion on Tuesday, President Donald Trump claimed the U.S. is at the moment raking in a whopping $2 billion per day from tariffs. “We’re doing very effectively,” Trump mentioned briefly, with out diving into specifics or providing supporting figures.
That’s… fairly an announcement.
Trump, who’s made tariffs a centerpiece of his commerce agenda since entering into workplace again in 2017, didn’t clarify how that $2 billion determine was calculated—or the place it’s coming from precisely. And once you line it up in opposition to what the Treasury is definitely reporting, effectively… issues don’t fairly match up.
In response to the U.S. Treasury Division’s each day money statements—mainly the federal government’s checkbook—“Customs and Sure Excise Taxes” deposits have been averaging nearer to $200 million a day this month. That’s not pocket change, nevertheless it’s a far cry from the $2 billion Trump talked about.
Again in February (the newest full month we’ve received knowledge for), the Treasury pulled in about $7.25 billion in whole customs duties. So until one thing wildly surprising occurred in March, we’re in all probability not hitting Trump’s numbers anytime quickly.
Extra readability could come when the month-to-month funds assertion for March drops on Thursday. Till then, it looks like the $2 billion declare is likely to be extra about political messaging than precise math.