President Donald Trump has repeatedly claimed his tariffs are bringing $2 billion a day to the U.S. — but federal officials say otherwise.
A spokesperson for U.S. Customs and Border Protection — the agency that collects tariffs — told CNBC their office has taken in $21 billion in total tariff revenue from “15 presidential trade actions” since January 20, 2025. That includes $500 million in tariff revenue since April 5, the agency said, after Trump announced sweeping “Liberation Day” tariffs, which he has since paused for 90 days.
Those figures would make it impossible for the U.S. to be bringing in $2 billion a day, despite Trump’s promises otherwise.
“We're taking in almost $2 billion a day in tariffs,” Trump said on April 8. “$2 billion a day and we're doing very well.
Trump announced blanket tariffs of at least 10 percent on nearly every country on April 2. Then, last week, he paused these tariffs for 90 days, citing Americans becoming “yippy” and “afraid.”
He only excluded China from the pause and is now engaged in a trade war with Xi Jinping as the U.S. put a 145 percent tariffs on Chinese goods while Beijing has put a 125 percent retaliatory tariff in place.
In a further escalation Tuesday, the White House said China “now faces up to a 245 percent tariff,” while Beijing has reportedly told airlines to stop ordering parts for Boeing jets and other American planes.
Meanwhile, Federal Reserve Chair Jerome Powell said Wednesday that he expects Trump’s tariffs to cause high inflation and slow economic growth.
"The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth," Powell said.
Consumers are feeling the brunt of these tariffs, with some business owners even adding “Trump surcharges” to customers’ bills as Trump’s trade war with China continues and they brace for the end of the 90-day pause.
As Trump’s trade war with China continues, Trump’s overall approval rating has dropped to just 45 percent, the lowest point of his second term so far, a new poll from Morning Consult shows.
The same survey also reveals more Americans trust Democratic lawmakers to handle the economy better than Republicans for the first time since 2021.
