U.S. collected $30 billion in tariffs in August and $165 billion so far this year

Revenue from President Donald Trump’s tariffs jumped in August. However, a recent court setback for the White House has raised the prospect that some of the money may have to be paid ￰0￱ Department figures show the ￰1￱ $30 billion in tariff revenue in August, bringing the year-to-date total to $165 ￰2￱ contrast, August 2024 yielded $7 billion, with $70 billion gathered over the same period a year ￰3￱ puts the increase in tariff receipts this year at $95 ￰4￱ gains could be temporary, however, if courts ultimately rule the approach unlawful and order ￰5￱ this month, a federal appeals court found that Trump lacked authority to use the International Economic Emergency Powers Act to impose the duties at ￰6￱ administration is appealing, sending the dispute to the Supreme Court.

“We would have to give a refund on about half the tariffs, which would be terrible for the treasury,” Treasury Secretary Scott Bessent said on NBC’s “Meet the Press.” In a court filing, Bessent said between $750 billion and $1 trillion in tariffs could be collected by June 2026, which is when the Supreme Court is expected to issue its ￰7￱ justices agreed to fast-track the case, with arguments set for ￰8￱ loss may not end tariffs completely Even if the court sides against the administration, the tariffs might not vanish, according to Jeff Buchbinder, chief equity strategist at LPL ￰9￱ wrote that the White House has other legal routes it could use to re-establish ￰10￱ previously collected tariff revenue would have to be paid back remains unresolved.

“Regardless of how the highest ￰11￱ rules, expect most of the current tariffs to remain in place,” Buchbinder ￰12￱ every tariff is at stake in the ￰13￱ issue are the “reciprocal tariffs” on a range of partners and the fentanyl-related duties on Canada, China, and Mexico. Sector-specific tariffs on items such as foreign cars, steel, and copper are outside the lawsuit because they rest on a different legal basis and remain in ￰14￱ economic backdrop has grown more ￰15￱ prices rose in August by the most in seven months, driven by housing and food, Labor Department data showed ￰16￱ the same time, a surge in first-time applications for jobless benefits last week left the Federal Reserve on track to cut interest rates next Wednesday.

Together, firmer inflation and a softer job market have revived stagflation worries and complicate the Fed’s choices after Wednesday’s ￰17￱ has also said recently that the U. S would be “completely destroyed” without tariff money , as reported by ￰18￱ and travel drive up prices Part of the price pressure reflects companies passing along higher costs tied to Trump’s broad tariffs, alongside a rebound in demand for ￰19￱ numbers to the United States slumped in the spring and early summer amid boycotts and the administration’s immigration crackdown before turning ￰20￱ Consumer Price Index increased 0.4% in August after a 0.2% rise in July, the largest monthly gain since January, the Bureau of Labor Statistics ￰21￱ costs rose 0.4%.

Food prices went up 0.5%, with supermarket prices up 0.6%. Fruits and vegetables saw the biggest rise at 1.6%. Tomato prices jumped 4.5%, the highest since January ￰22￱ rose 2.7% in the month and stood 13.9% higher than a year ￰23￱ was up 3.6% for the month and 20.9% from a year ￰24￱ likely contributed to some of these increases, while past droughts that reduced the national cattle herd probably helped push beef ￰25￱ your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.