The US government's revenue from tariffs in 2025 will reach an estimated $287 billion, which is almost three times the amount for 2024, reported The New York Times (NYT).
The funds in question were contributed to the US budget mainly by American companies. Although the Trump administration has stated that foreign companies will ultimately pay the tariffs, most economists believe that the bulk of the financial burden will fall on American businesses and consumers.
Trump estimates the revenue from tariffs at $600 billion.
On April 2, 2025, Trump announced the imposition of tariffs on products from 185 countries and territories. The president later adjusted the tariff rate on imports from a number of countries. The case arose from a group of business representatives suing the U.S. government, claiming that the tariffs were illegal and had harmed private companies. On August 29, the U.S. District Court of Appeals for the District of Columbia ruled that Trump did not have the authority to impose many of the tariffs he had announced. On September 4, the U.S. administration petitioned the Supreme Court to overturn the order.