U.S. President Donald Trump has previously said that some of the revenue generated from tariffs will help to pay down the nation's debt. (Andrew Harnik/Getty Images)
With the nation’s debt hovering just north of $38 trillion, revenue from tariffs amount to little more than a rounding error: billions collected against trillions owed.
The proposal comes at a pivotal moment, with tariff receipts climbing and the Supreme Court reviewing the legality of Trump’s trade measures.
Since Trump announced his "Liberation Day" tariffs in April, tariff revenues have climbed sharply from $23.9 billion in May to $28 billion in June and $29 billion in July.
Total duty revenue reached $215.2 billion in fiscal year 2025, which ended Sept. 30, according to the Treasury Department’s Customs and Certain Excise Taxes report.
TRUMP DEFENDS TARIFFS, SAYS US HAS BEEN ‘THE KING OF BEING SCREWED’ BY TRADE IMBALANCE
So far in fiscal year 2026, which began on Oct. 1, the U.S. has collected $37.5 billion, according to the latest numbers published by the Treasury Department.
And while tariff collections have soared under Trump, they remain a modest contributor to federal coffers.
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By contrast, individual income taxes generated more than $2.6 trillion in fiscal 2025, compared with $195 billion from tariffs and $452 billion from corporate income taxes, Treasury figures show.
The nation’s highest court is still in the process of deciding the fate of Trump’s trade agenda and the tariffs in question.
Amanda covers the intersection of business and geopolitics for Fox News Digital.
https://www.foxnews.com/politics/trump-says-tariff-funded-dividend-payments-americans-begin-next-year