Just months after Democrats and free-trade activists accused President Trump of sparking a devastating “trade war” with China and other nations, new data shows the Commander-in-Chief’s tough tariffs have generated over $4.4 billion for the United States.
According to the Washington Examiner, the Trump administration’s tariffs on foreign-goods have generated huge tax hauls for the Treasury; raking in billions through October 2nd.
“A spokesman for the Department of Homeland Security told the Washington Examiner that importers owe the federal government $4.4 billion for importing goods hit by the tariffs through Oct. 2, but said it was unclear how much of that total has been collected. The Treasury Department didn’t have details on what portion of the $4.4 billion had been collected, and how much was still owed,” writes the Examiner.
“According to DHS, U.S. Customs and Border Protection had assessed $2.34 billion in duties on steel imports and $615 million on aluminum,” adds the article.
Read the full report here.