US Tariffs Top $31 Billion in August, a New Record High

Last week, Treasury Secretary Scott Bessent said Trump’s tariffs could exceed $500 billion a year—higher than his initial $300 billion estimate.

The American Flag flies over cargo containers at Port Liberty in Bayonne, N.J., on Aug. 7, 2025. Spencer Platt /Getty Images

Treasury Secretary Scott Bessent announced on Sept. 2 in a post on X that tariff revenues exceeded $31 billion in August, setting a new record high.

The Treasury’s latest Daily Statement showed $31.37 billion in tariff revenue as of Aug. 29, totaling $183.56 billion in the fiscal year to date.