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American tariff income rose almost four -time from a year earlier to a record of $ 24.2 billion in May, the first full month in which the 10 percent worldwide rate of President Donald Trump was in force.
The figure represented an increase of more than 25 percent compared to the month earlier, while the total value of the import of American goods in April remained widely unchanged.
The figures suggest that Trump’s trade war could offer a much needed boost to the treasury of the US government and comes as republicans in the congress close to the adoption of the president’s flagship and expenditure account.
The bill, which expands enormous tax cuts from the first government of Trump, but makes steep cuts for public health care for Americans with a low income, it is expected to add $ 3.4 for the US government’s deficit in the following decade.
But the data also underline the potential for the aggressive rate of Trump to distort global trade flows.
Imports to the US from China fell to $ 19.3 billion, a fall of 21 percent compared to the previous month and 43 percent expired compared to the same month in 2024, which reflects a significant decrease in trade between the two largest economies in the world.
Earlier this year, Trump imposed new rates of 145 percent on all Chinese goods before the rate was reduced to 30 percent after American officials had held conversations with their Chinese counterparts in London and Geneva.
Trade in the trade brought Chinese import for domestic consumption to their lowest level in 19 years.
The American leader has focused in particular China because he wants to reform world trade and says that he wants to bring both production back to the US and that the taxes will raise money and make the country “very rich”.
Trump has insisted that the income from rates can lower dependence on income tax. But despite the increase in collected amounts, the vouchers represented only about 7.7 percent of the federal deficit of $ 316 billion from May.
However, the shortage figure oscillates from month to month. The amount that was increased in May was equal to around 14.5 percent of the typical deficit of $ 166 billion between federal expenditure and income in the past year.
Despite choosing China for the steepest rates, Trump attracted a global stock market route with the so -called Liberation Day of April, when he lowered the rates of 10 percent to 50 percent on most US trading partners, before he later temporarily reduced to 10 percent for 90 days.
Since 9 April, a baseline rate of 10 percent has been applied to almost all imports of goods. Certain products, including medicines and semiconductors, are exempt, but can get a separate rate in the future, while steel, aluminum and cars can charge a higher percentage of 25 percent to 50 percent.
If the 90-day break proceeds as planned on July 9, the US is set to increase the rates in dozens of countries without special agreements. Trump has threatened the EU with a levying of 50 percent if no deal is reached, while Vietnam has successfully negotiated a rate of 20 percent compared to the original 46 percent that the US had threatened.
The effective rate percentage, calculated as the average duty that was increased as a share of their value in all imports, rose in May to 8.8 percent, the highest figure since 1946. For Chinese goods, the rate reached a record 48 percent.
At the end of May, the US doubled steel and aluminum rates to 50 percent and later expanded the definition with steel -derived products such as freezers, dishwashers and washing machines.
Analysis by Yale Budget Lab suggests that if the rates would remain on 16 June, without further increase on 9 July, the effective rate percentage would settle by around 15 percent, even after the accounting for changes in consumer behavior.
Taking into account different effects of the rates on the US economy, the think tank was expected that the current rate policy would yield $ 2.2 tn between 2025 and 2034, but would result in the net turnover of $ 1.8 tn during those years thanks to reductions of tax revenues elsewhere.
Although it is a large amount, it is considerably less than the $ 3.2 TN foreplay Conference budget office.
Additional reporting by Aime Williams in Washington
