The US raked in an astonishing $37.8 billion from import duties in April and May as Donald Trump's tariffs began to kick in.
The staggering figures show the real cost for businesses, but the real benefits to the Treasury's coffers.
The government raked in $15.6 billion in April, before leaping 42 percent to $22.2 billion in May, according to Treasury data.
The duties collected in May accounted for 6 percent of the government's total income for the month.
Although the figures are an all-time high for imports, it is still below what Trump has previously claimed the US is making as a result of his tariffs.
Historically most import duties have been generated from taxing goods from China, but Chinese imports have dropped dramatically since Trump implemented a series of punitive tariffs.
In April the US imported just $24 billion-worth of goods from China, the lowest number since 2010 other than the early months of the Covid-19 pandemic.
So far this year the US has collected $22.5 billion from duties on Chinese imports.
https://www.dailymail.co.uk/yourmoney/article-14810989/astonishing-figures-money-US-making-Trump-tariffs.html