U.S. Tariff Revenue Set to Skyrocket ’Substantially’—Bessent Predicts Windfall

Tariff cash tsunami incoming—Bessent's bold forecast shakes fiscal circles.

The Revenue Reckoning

Federal coffers brace for impact as import duties surge beyond projections. Trade policies bite harder than expected—corporations scramble to absorb costs while consumers foot the bill.

Policy Payday

Customs collections smash through previous ceilings. No slowdown in sight—protectionist measures fuel unprecedented government intake. Markets watch nervously as economic ripple effects spread.

Because nothing says 'balanced budget' like forcing everyday Americans to pay more for everything from electronics to automobiles—classic Washington arithmetic at work.

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“I’ve been saying that tariff revenue could be $300 billion this year. I’m going to have to revise that up substantially,” Bessent said in an interview with CNBC’s “Squawk Box” on Tuesday. “We’re going to bring down the deficit to GDP.” However, Bessent didn’t specify his new tariff revenue estimate.

Bessent Eyes Debt Reduction as Tariff Revenue Reaches Record High

President Trump’s wave of tariffs on key U.S. trading partners has pushed consumers to face an average tariff rate of 18.6%, the highest since 1933, according to The Budget Lab at Yale University.

U.S. tariff revenue in July reached a record high of $27.7 billion, compared to just $8 billion a year ago. Customs duties for the fiscal year ending September 30 total $135.7 billion, also a record high.

As for the extra tariff revenue, Bessent plans to use it to reduce U.S. debt. Once the debt is settled at a healthy level, it can be “used as an offset to the American people.”