Trump Tariffs Deliver Record-Breaking Customs Haul in April

U.S. Customs duty collections surged more than 60% in April, setting a new record for the highest monthly revenue haul in American history, according to newly released Treasury Department data reviewed by Bloomberg.

Federal coffers collected at least $15.4 billion in customs duties and related excise taxes last month, an increase of $6 billion compared to March.

The sharp rise coincides with the first wave of President Donald Trump’s newly implemented tariffs, including a renewed 25% tariff on steel and the “universal” 10% tariff announced on April 2.

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Daily collections—payments made at the time goods enter the country—rose nearly 40% in April compared to the previous month.

While the current figures reflect revenue from the increased 25% steel tariff, the majority of the universal 10% tariff had not yet fully taken effect.

Treasury officials anticipate that May’s total could rise even higher as the broader scope of tariffs comes into play, Bloomberg reported.

President Trump has consistently emphasized tariffs as a central part of his “America First” economic strategy, framing them both as a method to protect U.S. manufacturers from low-cost foreign competition and as a tool to generate federal revenue.

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Critics in Washington, D.C., have long opposed tariffs, arguing they are ineffective trade measures.

However, prior to the introduction of the federal income tax in 1913, tariffs were the primary means of funding the U.S. government.

President Trump has repeatedly stated that one of his broader goals is to reduce America’s reliance on income taxes, with customs duties playing a significant role in that objective.

“There is a chance that the money from tariffs could be so great that it would replace (the income tax). You know, in the old days, about 1870 to 1913, the tariffs were the only form of money. And that’s when our nation was relatively the richest. We were the richest,” President Trump said in an interview with Fox News.

👀👀👀

TRUMP: “There’s a chance that the money from the tariffs will be so great that it would replace [income taxes].”

“1870 to 1913, the tariffs were the only form of money [revenue]… that’s when our nation was relatively the richest.” pic.twitter.com/8RRmHwRHwN

— Eric Daugherty (@EricLDaugh) April 15, 2025

Despite the historic spike in revenue, $15 billion remains a relatively small amount compared to the nation’s overall financial obligations.

The U.S. national debt currently exceeds $36 trillion, and Washington recorded a $1.31 trillion deficit in the first half of the current fiscal year.

Economists who have been skeptical of Trump’s trade strategy continue to express doubts about the long-term effectiveness of tariff-generated revenue.

Mark Zandi, chief economist at Moody’s Analytics, told CNBC earlier this month, “If you get to $100 billion to $200 billion, you’ll be pretty lucky.”

The latest customs figures arrive amid broader debates over trade policy and government spending priorities.

While some economic analysts remain critical of tariffs, the White House views the surge in customs collections as a validation of Trump’s approach to rebuilding American industries and reducing foreign economic dependence.

🚨 YOU’VE GOTTA HEAR THIS: Frank Luntz gets a panel of Trump voters and is shocked when he finds out they aren’t jumping ship because of a market correction/dip in response to tariffs.

There’s too much reason and logic in this frame for any single Democrat to handle!

LUNTZ:… pic.twitter.com/A26zxjDgw9

— Eric Daugherty (@EricLDaugh) April 26, 2025