Federal customs revenues hit another new record in August, driven by sweeping tariffs on imports, one of the Trump administration’s signature economic policies.
Customs duties — which are mostly tariff revenues — hit $30 billion in August, up almost 300 percent since last year, the Treasury Department reported Thursday.
The August numbers are up from $28 billion in July, $27 billion in June, and $23 billion in May. Numbers for all those months are about three times greater than they were prior to the Trump tariffs.
The White House has levied new tariffs on dozens of countries and canceled duty exemptions for small packages from all over the world. The overall U.S. tariff rate, which is an unofficial measure compiled by various financial and academic groups, is now at its highest level i