U.S. tariff revenues hit all-time monthly record at $28 billion in July 2025 - Fox Biz

U.S. tariff revenues hit all-time monthly record at $28 billion in July 2025 - Fox Biz

In a significant development, the U.S. collected nearly $28 billion in customs duties in July 2025, marking the highest monthly total so far this year, according to data from the Treasury Department [1]. This figure surpasses the previous record of $27 billion set in June.

The record-breaking revenue comes as President Donald Trump enters the final days before his global trade deadline. In recent weeks, the president has secured trade deals with major trading partners, including the European Union and Japan [2]. These agreements have contributed to the surge in tariff revenues.

The U.S. tariff revenues have been steadily increasing since the beginning of the year. In January, tariff revenues hovered around $7.9 billion, but they more than doubled in April to $16.3 billion [1]. The July figures, based on data through July 25, have already surpassed the monthly record set in June.

Treasury Secretary Scott Bessent has previously stated that the administration predicts tariffs may generate more than $300 billion in revenue for the federal government [1]. However, the economic burden of these higher import taxes is ultimately borne by U.S. businesses, which may pass on the costs to American consumers through higher prices.

The U.S.-Japan trade agreement, announced last week, has also had an impact on tariff revenues. The deal includes a 15% tariff rate on Japanese imports into the U.S., which is less punitive than the previously scheduled 27.5% rate [3]. While the Japanese car manufacturers have rallied on the news, U.S. automakers have expressed concern about the deal, citing the potential for higher import levies on vehicles from Canada and Mexico [3].

The increasing tariff revenues highlight the ongoing impact of President Trump's trade policies on the U.S. economy. As negotiations continue with other trading partners, the future trajectory of tariff revenues remains uncertain. However, the record-breaking July figures underscore the significant revenue generated by these policies thus far.

References:
[1] https://www.foxbusiness.com/politics/july-tariff-revenues-break-monthly-record-150-billion-collected-so-far-2025
[2] https://seekingalpha.com/news/4473105-us-trade-representative-says-more-talks-needed-with-india-ahead-of-aug-1-tariff-deadline
[3] https://www.investing.com/analysis/3-automakers-to-buy-on-usjapan-trade-dealnot-who-you-expect-200664502