Trump’s tariffs are bringing in a ‘very significant’ amount of revenue, top analyst says: Roughly $350 billion a year

The U.S. government is currently collecting tariff revenues at an annualized pace of roughly $350 billion, a “significant” amount, according to Torsten Slok, chief economist at Apollo Global Management . In his typical style, one of brevity and striking charts, Slok added that the figure equates to roughly 18% of annual household income tax payments, underscoring that tariffs are not a marginal tool but a significant revenue source shaping America’s economic and trade landscape.

Tariffs—essentially taxes imposed on imported goods—have long been a controversial instrument in U.S. economic policy. Traditionally used to protect domestic industries or raise public funds, they have re-emerged in recent years as a centerpiece of trade strategy. The scale of collection today, at $350 billion a