Trump-Era Tariffs Raise US$200 Billion

The United States has collected over US$200 billion in tariffs this year due to new duties implemented by President Donald Trump since early 2025, according to the Customs and Border Protection (CBP) agency. This total applies only to the newly imposed tariffs and excludes duties from Trump’s first term.

Earlier this year, Trump imposed tariffs on imports from most countries without congressional approval. The reasons for the tariffs varied, including claims of unfair trade practices, and also included so-called “fentanyl tariffs” on goods from Canada, China, and Mexico, citing these countries’ failure to prevent the flow of the opioid into the United States.

“Between Jan. 20 and Dec. 15, 2025, US Customs and Border Protection collected more than US$200 billion in tariffs thanks to more than 40 executive orders put in place by President Donald Trump’s Administration,” CBP said. “This figure underscores CBP’s effectiveness in promoting secure, fair, and compliant trade, strengthening America’s national and economic security.”

Collections fell slightly in November, the first decline since the broad new tariffs were announced in April, with US$30.75 billion collected compared with US$31.15 billion in October. MBN previously reported that several factors contributed to this reversal, including a cost-of-living crisis that prompted the administration to reduce tariffs on key consumer goods such as coffee, bananas, and beef in mid-November. These rollbacks were intended to ease price pressures on US households, especially as beef prices have climbed nearly 15% since January 2025, and 55% over the last five years, partly due to livestock disease.

Although the immediate impact on retail prices may not yet be visible, the tariff reductions have already affected federal revenue. Traditionally, a small dip in monthly tariff collections would not raise concerns, but Trump has repeatedly suggested that these funds could be used to offset income taxes, provide stimulus checks, or reduce the national debt. To date, only US$236.2 billion in tariff revenue has been collected from January to November, less than 1% of the current US$38.38 trillion US debt.

Some of the collected revenue is already earmarked for a US$12 billion aid package for farmers impacted by trade tensions with China, with US$11 billion allocated for direct payments starting next year. However, the future of a significant portion of Trump’s tariffs depends on the Supreme Court, as roughly US$90 billion of the US$174 billion collected so far was imposed under presidential authority via the International Emergency Economic Powers Act (IEEPA). Should the court rule that Trump lacked authority under IEEPA, much of this revenue could be refunded to importers, erasing a large share of this year’s collections.

At the moment, the Supreme Court is currently reviewing whether these new tariffs are legal. The US Court of Appeals for the Federal Circuit, in a 7-4 decision in August, upheld a previous ruling that Trump lacked the authority to impose tariffs without congressional approval.“The core congressional power to impose taxes such as tariffs is vested exclusively in the legislative branch by the Constitution,” the Federal Circuit said in its ruling. “Tariffs are a core congressional power.”

In November, Costco joined other companies in suing the Trump administration to recover tariffs paid this year and to block future collections while the Supreme Court case proceeds.