US Will Collect More Than $300 Billion in Tariff Revenues This Year, Treasury Secretary Says

The U.S. government is focusing on 18 critical trading partners that make up roughly 95 percent of America’s trade deficit.

Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee on Capitol Hill on June 11, 2025. Madalina Vasiliu/The Epoch Times

The United States is on track to potentially raise “well over $300 billion” in tariff income by the end of the year, Treasury Secretary Scott Bessent said during a July 8 White House Cabinet meeting.

“We have taken in about $100 billion in tariff income thus far this year,” Bessent said. “That’s with the major tariffs not having started till the second quarter.”