White House senior counselor for trade and manufacturing Peter Navarro joins ‘Sunday Morning Futures’ to discuss a court ruling on President Donald Trump’s tariffs, India’s Russian oil trade, the removal of Fed Governor Lisa Cook and more.
The U.S. government collected $31.4 billion in tariff revenues in August, the largest monthly haul so far in 2025, underscoring the continued impact of trade duties on the economy.
Total tariff revenue for 2025 has reached more than $183.6 billion, according to the latest “Customs and Certain Excise Taxes” figures released on Aug. 29 by the Treasury Department.
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Tariff revenues rose steadily from $17.4 billion in April to $23.9 billion in May, before climbing to $28 billion in June and reaching $29 billion in July.
A year-over-year comparison of tariff collections. (U.S. Treasury / Fox News)
So far in September, the U.S. has brought in a little over $1 billion, according to the latest Treasury statement. At the current pace, the U.S. could collect as much tariff revenue in just a few months as it did during the entire previous year.
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The increase in tariff revenue comes as the Trump administration moves to uphold global duties, following a federal appeals court decision that President Donald Trump exceeded his authority in imposing them through emergency powers.
The Aug. 29 court decision, seen as a setback for Trump’s trade policy, does not extend to the tariffs imposed on steel and aluminum imports.
Shipping containers are organized at the Houston Port of Authority on Feb. 10, 2025, in Texas. (Brandon Bell / Getty Images)
Attorney General Pam Bondi said the Justice Department will appeal the decision to the Supreme Court and work through that legal process. In the interim, the court has allowed Trump’s tariffs to remain in place through mid-October.
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Treasury Secretary Scott Bessent said on Sunday he was confident that the Trump administration would win its case in the Supreme Court. He has previously said that tariff revenue may top $500 billion.
Still, the source of tariff revenue is important to note. American businesses pay these import taxes to the federal government, but the cost often falls on consumers, as companies raise prices to pass off the economic burden.
