Tariffs

 USA FACTS

• As of August, fiscal year revenue from customs duties reached $165.2 billion, which was 136.7% higher than it was in the same month last year. In comparison, the federal government collected $77.0 billion customs duties (which includes tariffs) for all of FY 2024. 
  
  
• Customs duties revenue, adjusted for inflation, remained between $27 billion and $47 billion from 1980 to 2018. It grew from FY 2018 to FY 2022, reaching $108.2 billion. 
  
  
• Tariffs and other customs duties were the largest source of federal revenues in the 18th and 19th centuries before the establishment of income taxes. 
  
  
• Learn how tariffs affect trade in this video with USAFacts Founder Steve Ballmer.