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The US First-Half Tariff Revenue Soars to $872 Billion
BlockBeats News, July 18th, U.S. government data shows that in the first half of this year, U.S. tariff revenue soared to $87.2 billion. Since the Trump administration implemented the so-called retaliatory tariffs in April this year, tariff revenue has rapidly increased. In June alone, tariff revenue reached $26.6 billion, four times the usual level. According to analysis by the U.S. Customs and Border Protection, as of the end of June, the 10% ad valorem tariffs have brought in over $17.7 billion in revenue, while specific tariffs on the automotive industry have also contributed over $10.7 billion.
Estimates from the Yale University Budget Lab show that as of Sunday, the overall average effective tariff rate in the U.S. has reached 20.6%, the highest level since 1910. At the same time, the proportion of tariffs in the total U.S. import value is also rapidly increasing. The new round of retaliatory tariffs set to take effect on August 1st is expected to further push this number up. (FX168)
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