CBP Reports $500 Million from New Tariffs, Disputes Trump's $2 Billion Daily Claim; Total Tariff Revenue Exceeds $21 Billion Since January 2025

US • Business • 04/16 17:50
CBP Reports $500 Million from New Tariffs, Disputes Trump's $2 Billion Daily Claim; Total Tariff Revenue Exceeds $21 Billion Since January 2025

U.S. Customs and Border Protection (CBP) reported collecting over $500 million from new tariffs since April 5, 2025, contradicting former President Donald Trump's claim of $2 billion daily revenue from tariffs. Treasury data shows daily deposits under "Customs and Certain Excise Taxes" at $305 million. Since January 20, 2025, total tariff revenue from 15 trade actions has exceeded $21 billion. These figures highlight discrepancies in the administration's public statements about tariff revenue, with actual daily intake closer to $250–$305 million.

Key Updates

04/18 01:05

U.S. Labor Market Steady with Falling Jobless Claims, But Tariffs Hinder Homebuilding and Economic Growth

In early April, U.S. initial jobless claims fell by 9,000 to 215,000, a two-month low, indicating labor market stability. However, single-family homebuilding dropped 14.2% in March due to rising material costs from tariffs, according to the U.S. Census Bureau. This decline contributes to a broader economic slowdown, with Q1 2025 GDP growth expected to be near zero. Tariffs have increased construction costs, impacting the housing sector and overall economic growth, as noted by the National Association of Home Builders and Federal Reserve Chair Jerome Powell.

04/17 19:05

Amazon Prices Remain Stable Amid Trump's Tariffs on Chinese Imports, Minimal Consumer Impact

Despite tariffs on Chinese imports imposed by former President Trump, Amazon prices have remained stable, with minor increases in categories like automotive and arts and crafts. Data from Keepa shows only 9 out of 27 categories saw price rises, mostly under 1%. Sellers had preemptively stocked inventory, delaying cost increases. Amazon's fair pricing policy also discourages abrupt hikes. The automotive sector, however, is experiencing more significant effects, with potential vehicle price increases. Sellers are adjusting strategies, but the broader impact on consumer costs has been minimal so far.

04/17 05:18

Ford Warns of Price Increases on New Vehicles Due to Trump's Auto Tariffs, Discounts Available Until June 2

Ford Motor Co. may increase prices on new vehicles starting with May production if U.S. auto tariffs, introduced by President Trump, remain. The 25% tariffs on imported vehicles and parts are driving potential cost increases. Ford will maintain current prices for vehicles in dealer inventory and for retail orders placed before June 2. The company is offering discounts through June 2 to counteract consumer concerns. The tariffs have created uncertainty in the auto industry, with potential cost increases of $108 billion by 2025, affecting consumer demand and dealership profitability.

04/17 02:59

Trump's Trade War: Small U.S. Businesses Struggle with Tariff Impacts from Vinyl to Fish Sauce

President Trump's tariffs are impacting U.S. small businesses, causing confusion and cost increases. The vinyl record industry faces rising costs due to tariffs on imported materials. Son Fish Sauce in California absorbs costs to maintain community ties, while a D.C. baby store raises stroller prices by $300 due to Chinese tariffs. Small businesses, unlike large corporations, struggle to manage these changes, with many unable to absorb costs or lobby for exemptions. The erratic tariff rollout adds to the uncertainty, posing existential threats to these enterprises.

04/17 01:48

CNBC's Jim Cramer Advises Consumer Companies to Lower Prices Amid Tariff Concerns and Declining Sales

CNBC's Jim Cramer urges consumer companies to cut prices amid looming tariffs and economic uncertainty. He argues that reducing prices is essential to maintain sales, contrary to expectations of price hikes due to tariffs. His comments follow LVMH's report of a 3% sales decline in the U.S., highlighting consumer resistance to high prices. Cramer warns that companies risk losing sales if they don't adapt to price-sensitive consumers. He suggests mergers as a potential strategy to preserve margins without raising prices, as the market faces challenges from tariffs and weakening consumer sentiment.

04/16 17:50

CBP Reports $500 Million from New Tariffs, Disputes Trump's $2 Billion Daily Claim; Total Tariff Revenue Exceeds $21 Billion Since January 2025

U.S. Customs and Border Protection (CBP) reported collecting over $500 million from new tariffs since April 5, 2025, contradicting former President Donald Trump's claim of $2 billion daily revenue from tariffs. Treasury data shows daily deposits under "Customs and Certain Excise Taxes" at $305 million. Since January 20, 2025, total tariff revenue from 15 trade actions has exceeded $21 billion. These figures highlight discrepancies in the administration's public statements about tariff revenue, with actual daily intake closer to $250–$305 million.

04/16 13:50

U.S. Vehicle Inventories Dwindle as Consumers Rush Purchases Before Tariff-Induced Price Hikes

U.S. vehicle inventories are rapidly decreasing as consumers buy new and used cars to avoid price hikes from new tariffs on imports. Cox Automotive reports new vehicle supply fell from 91 to 70 days, and used vehicle supply dropped to 39 days. This demand surge led to a 1.4% rise in March retail sales, with auto and parts dealers seeing a 5.3% increase. Automakers like Ford and Stellantis are offering incentives, while others delay shipments to avoid tariffs. The 25% tariffs, effective April 3, could reduce U.S. auto sales by 700,000 units this year.

04/16 10:54

MMAC President Dale Kooyenga Criticizes White House Tariff Policies as Major Tax Increase Impacting U.S. Businesses

Dale Kooyenga, president and CEO of the Metropolitan Milwaukee Association of Commerce, criticized the White House's tariff policies as a significant tax increase, affecting over 1,800 businesses in southeastern Wisconsin. He highlighted the tariffs' unpredictable nature and their burden on companies and consumers. The Trump administration's tariffs, including a 10% baseline on imports and up to 145% on Chinese goods, have raised U.S. tariff rates and prompted retaliatory measures. Kooyenga noted businesses' fear of speaking out due to potential retaliation, and called for more precise trade measures instead of broad policies.

04/16 10:21

U.S. Imports Reach Historic Highs in February 2025 Amid New Tariff Concerns

U.S. imports reached a record $290 billion in February 2025, a 21% increase from February 2024, driven by businesses stockpiling goods ahead of new tariffs. This followed January's 14-year high of over $320 billion. The surge was fueled by anticipatory purchasing, especially from China, Canada, and Mexico, targeted by the Trump administration's tariffs. The tariffs, effective from February, have significantly impacted commodity prices, with clothing and textiles seeing sharp increases. Despite the strong start, imports are expected to decline sharply in the second half of 2025 due to the tariffs.

04/16 02:52

Nvidia's AI Chip Export Restrictions to China Shake Markets; Yellen and Trump Address Economic Concerns

U.S. markets experienced volatility after Nvidia announced export restrictions on its AI chips to China, causing a tech stock sell-off. Treasury Secretary Scott Bessent and former Secretary Janet Yellen highlighted economic uncertainty due to tariff instability and bond market turbulence. Former President Donald Trump supports a domestic AI infrastructure initiative, facing delays in Texas due to new legislation. Royal Paper, a U.S. toilet paper manufacturer, filed for Chapter 11 bankruptcy amid industry consolidation, with Sofidel America Corp. set to acquire its assets.

CBP Revenue Update Highlights Discrepancy

In a statement released to CNBC, CBP confirmed that it has collected more than $500 million under the new reciprocal tariffs introduced earlier this month. These tariffs are part of a broader trade policy shift under the Trump administration’s second term, which has included sweeping duties on imports from China, Mexico, Canada, and dozens of other countries.

“Since April 5, CBP has collected over $500 million under the new reciprocal tariffs, contributing to more than $21 billion in total tariff revenue from 15 presidential trade actions implemented since January 20, 2025,” the agency stated.

This announcement comes amid growing scrutiny of the administration’s tariff policy and its economic implications. The $500 million figure, while substantial, is far below the $2 billion per day that Trump has repeatedly claimed the U.S. is collecting from tariffs.

Treasury Department Data Undermines $2 Billion Daily Claim

The U.S. Treasury Department’s daily statement of deposits, released Monday, reported that revenue under the category "Customs and Certain Excise Taxes" totaled $305 million for the day. This figure includes all tariff collections at the point of entry, as administered by CBP.

Even during a recent 10-hour financial system outage that temporarily prevented importers from entering exemption codes for in-transit goods, CBP reported that its average daily revenue stream of approximately $250 million remained uninterrupted.

These figures suggest that the actual daily intake from tariffs is closer to $250–$305 million, not the $2 billion per day cited by Trump. The discrepancy raises questions about the accuracy of the administration’s public statements regarding the financial impact of its trade policies.

Breakdown of Tariff Actions Since January 2025

Since the beginning of Trump’s second term on January 20, 2025, the administration has implemented 15 separate trade actions involving tariffs. These include:

  • A 10% universal import duty on all goods entering the U.S., with higher rates for 57 specific trading partners.
  • A 25% tariff on imports from Mexico and Canada, with a reduced 10% rate on Canadian energy.
  • Additional tariffs on Chinese goods, raising the effective rate to as high as 145% in some categories.
  • Sector-specific tariffs targeting the automotive and pharmaceutical industries.

Despite the aggressive scope of these measures, the total revenue collected—$21 billion over nearly three months—averages out to approximately $250 million per day, aligning with Treasury and CBP data but falling far short of Trump’s $2 billion daily assertion.

System Glitch and Revenue Continuity

The CBP’s revenue reporting also followed a 10-hour outage in the U.S. financial system, during which importers were unable to input exemption codes for goods already in transit. Despite the disruption, CBP stated that its average daily revenue stream remained unaffected.

“Even during the brief glitch, CBP’s average $250 million/day revenue stream remained uninterrupted,” the agency noted.

This continuity underscores the robustness of the tariff collection system but also reinforces the consistency of the reported daily revenue figures—again, far below the $2 billion per day claimed by the former president.

Historical Context and Policy Implications

Trump’s tariff strategy in his second term has been more expansive than during his first administration. According to the Tax Foundation, the first Trump administration imposed tariffs on approximately $380 billion worth of imports. In contrast, the second term is expected to impact more than $1.4 trillion in imports by April 2025.

The administration has framed these tariffs as a tool to rebalance trade relationships and protect American industries. However, the actual revenue figures suggest that the financial returns from these policies may not match the administration’s public rhetoric.

Moreover, the Yale Budget Lab recently estimated that the effective U.S. tariff rate has risen to 27%, the highest level in over a century. This increase reflects the broad scope of the new tariffs but also raises concerns about their long-term economic impact.

Public and Market Reactions

Public opinion on the tariffs remains divided. A CBS News poll conducted earlier this month found that 63% of Americans oppose the new tariffs, citing concerns over rising consumer prices and strained international relations.

Meanwhile, financial markets have responded with volatility. The announcement of a 10% universal import duty on April 2—dubbed “Liberation Day” by Trump—triggered a sharp downturn in equity markets, reflecting investor unease with the administration’s trade strategy.

References

People Also Ask...

faq

How's Trump's $2 billion daily tariff claim holding up against the actual $250-$305 million reported by CBP and Treasury?

faq

How does the $21 billion tariff revenue align with Trump's $2 billion daily claim?

faq

How can we push for transparency in tariff revenue reporting to ensure accurate public information?