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Tariffs not bringing in as much as estimated
Posted on 4/16/25 at 1:39 pm
Posted on 4/16/25 at 1:39 pm
cnbc
U.S. Customs and Border Protection appears to be contradicting President Donald Trump’s comments on the daily revenue generated by his latest slate of tariffs.
The agency said in a statement to CNBC on Monday, “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 Jan 20, 2025.”
The update comes after a 10-hour glitch in the finance system prevented U.S. importers from inputting a code that would have exempted freight that was already on the water from being subject to the higher duties.
“Even during the brief glitch, CBP’s average $250 million/day revenue stream remained uninterrupted,” CBP said in its statement.
Trump has repeatedly said the United States is taking in $2 billion per day from tariffs, including revenues directly resulting from his so-called “reciprocal” tariffs.
The most recent data released Monday by the Treasury Department shows the department’s daily statement of total deposits listed under “Customs and Certain Excise Taxes” as $305 million. All tariffs are collected by U.S. Customs at the point of entry.
In early April, the Trump administration imposed steep tariffs on dozens of countries. Hours later, it temporarily lowered most tariff rates to a universal 10%, except for tariffs on China, which it ratcheted up. Meanwhile, the administration maintained sector-specific tariffs on the automotive industry and is expected to announced new trade policies for the pharmaceutical industry.
U.S. Customs and Border Protection appears to be contradicting President Donald Trump’s comments on the daily revenue generated by his latest slate of tariffs.
The agency said in a statement to CNBC on Monday, “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 Jan 20, 2025.”
The update comes after a 10-hour glitch in the finance system prevented U.S. importers from inputting a code that would have exempted freight that was already on the water from being subject to the higher duties.
“Even during the brief glitch, CBP’s average $250 million/day revenue stream remained uninterrupted,” CBP said in its statement.
Trump has repeatedly said the United States is taking in $2 billion per day from tariffs, including revenues directly resulting from his so-called “reciprocal” tariffs.
The most recent data released Monday by the Treasury Department shows the department’s daily statement of total deposits listed under “Customs and Certain Excise Taxes” as $305 million. All tariffs are collected by U.S. Customs at the point of entry.
In early April, the Trump administration imposed steep tariffs on dozens of countries. Hours later, it temporarily lowered most tariff rates to a universal 10%, except for tariffs on China, which it ratcheted up. Meanwhile, the administration maintained sector-specific tariffs on the automotive industry and is expected to announced new trade policies for the pharmaceutical industry.
This post was edited on 4/16/25 at 1:40 pm
19
Posted on 4/16/25 at 1:43 pm to bigjoe1
Ain’t the money coming from you and I? We got no more money
Posted on 4/16/25 at 1:51 pm to bigjoe1
So the tariffs aren’t a big deal?
Posted on 4/16/25 at 1:58 pm to bigjoe1
If our tariffs were roughly 4% across the board and now they are 10% how are we not bringing in more 
Posted on 4/16/25 at 2:00 pm to SDVTiger
quote:
If our tariffs were roughly 4% across the board and now they are 10% how are we not bringing in more
Trade volume down because people are refusing to pay extra?
This post was edited on 4/16/25 at 2:01 pm
Posted on 4/16/25 at 2:03 pm to bigjoe1
He can't tell the truth or admit a mistake about anything.
Posted on 4/16/25 at 2:15 pm to bigjoe1
When the subject of replacing the income tax with tariffs came up before Trump was event inaugurated, I noted that as tariffs go up, imports tend to go down. No one should be particularly surprised by this.
Posted on 4/16/25 at 2:22 pm to AlteriorMotive
quote:
Trade volume down because people are refusing to pay extra?
So those countries want to implode vs payong slightly more
Bold strategy cotton
Posted on 4/16/25 at 2:25 pm to SDVTiger
quote:
So those countries want to implode vs payong slightly more
Well no, people will just steer clear of discretionary spending.
Posted on 4/16/25 at 2:26 pm to SDVTiger
It's not the exporting countries doing it. It's the American purchaser deciding to make do with what they have.
Posted on 4/16/25 at 2:28 pm to BottomlandBrew
Political board tells me this is the greatest thing in American history
Posted on 4/16/25 at 2:32 pm to BottomlandBrew
I've seen a few articles that say containers are being abandoned in ports on both coasts. After some period the port authority will auction them off.
Plus, shipments are now being canceled.
Plus, shipments are now being canceled.
Posted on 4/16/25 at 3:16 pm to bigjoe1
that is a good sign. apparently we aren't as dependent on china as it was speculated.
Posted on 4/16/25 at 3:16 pm to bigjoe1
Aw no worries doge is exceedingly it 2 trillion dollar target.. we good.
Posted on 4/16/25 at 3:33 pm to bigjoe1
Didn't he pause all the tariffs for 90 days besides the ones on China??
Posted on 4/16/25 at 3:37 pm to SDVTiger
quote:
If our tariffs were roughly 4% across the board and now they are 10% how are we not bringing in more
That's not how I read it.
I checked Treasury Statement website to compare YTD through 4/15 of current and prior years.
2024 through 4/15 - 47,487
2025 through 4/15 - 55,483
So in gross dollars we're up ~17% y/y
ETA: It actually says fiscal YTD which starts October 1 so deleting the run rate average
This post was edited on 4/16/25 at 3:57 pm
Posted on 4/16/25 at 3:47 pm to Sterling Archer
Good evaluation of the impacts.
But hasn’t it only been like two weeks? I would think we’d need at least a month to see a better picture.
But hasn’t it only been like two weeks? I would think we’d need at least a month to see a better picture.
Posted on 4/16/25 at 3:50 pm to AlteriorMotive
quote:
Trade volume down because people are refusing to pay extra?
So then where will people get the stuff?
Posted on 4/16/25 at 3:51 pm to TDFreak
quote:
I would think we’d need at least a month to see a better picture.
I would think we'd need a little longer. Everything on the water by the cutoff date is under the "old" rates. We won't start seeing Chinese impacts until stuff leaving their ports within the past week hits our ports in early to mid May. So, by the end of June we should have some good data - assuming things don't change again, at which point we reset clocks.
Posted on 4/16/25 at 3:54 pm to TDFreak
quote:
But hasn’t it only been like two weeks? I would think we’d need at least a month to see a better picture.
MTD (4/1 - 4/15) Y/Y is up 91% which is a huge increase and I wonder if there was a spike in imports pre tariffs since everyone knew the date they would be in place.
It'll be interesting to see how it plays out. With all of the uncertainty it feels irresponsible to not cut back on personal consumption and we'll see over the coming months if that holds true for the majority of Americans
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