Trump administration brought in a record-high U.S. tariff revenue in July, nearly $30 billion

The Trump administration just posted a record-high haul in tariff revenue—nearly $30 billion in July alone. That’s the largest monthly figure in U.S. history, fueled by new trade deals with Japan, South Korea, and the EU, along with steep duties on China, Canada, and other holdouts. Trump says the windfall proves tariffs are ‘working big league,’ while critics warn the costs are ultimately being passed on to American consumers. Either way, tariffs are now a major cash cow, with total revenue on track to surpass $300 billion this year.