Republican Sen. Josh Hawley has introduced legislation that would use some of the revenue to send rebate checks to Americans.

Washington

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

President Trump's tariffs have generated billions of dollars in revenue, with projections suggesting they could bring in up to $2.4 trillion over the next decade if maintained. The revenue from these tariffs is deposited into the US Treasury's general fund, and Congress determines how it is spent. Some lawmakers have proposed using the funds for rebate checks to Americans, while President Trump has suggested the money could help reduce the national debt. However, experts note that tariff revenue is small compared to the overall US deficit and debt, and its effectiveness depends on broader fiscal policy decisions. The future of these tariffs, and the revenue they generate, may also change depending on the outcome of future presidential elections, as subsequent administrations could alter or remove them.

What's happens to the revenue generated by Trump's tariffs?

President Trump's new tariffs have generated billions of dollars since being implemented earlier this year. If they stay in place, they could bring in $2.4 trillion over the next decade. That's according to the budget lab at Yale. Money that we raise from tariffs goes in what's called the general fund, which is just kind of a catch-all fund that Treasury runs. Ernie Tedeschi is the director of economics for the budget lab at Yale and says it's up to Congress to decide how to put that money to use. Republican Senator Josh Hawley introduced legislation that would use some of the revenue to send rebate checks to Americans. President Trump has said the tariffs will help America eliminate its massive debt. Tariffs are making our country very rich again and we'll be able to take care of our debt. But with the national debt at more than $37 trillion, tariff revenue alone is just a drop in the bucket. When you have a $2 trillion deficit every year, every little bit counts, I suppose. But if you're going to actually make a dent, you have to touch the largest pieces of the pie, which is interest, entitlements and defense. Christopher Hodge is an economist who used to work at the Treasury. He notes the revenue tariffs bring in could decline if President Trump's other goal from tariffs come to fruition. More U.S. companies reshoring their manufacturing. You can't have tariffs solve all of your policy problems. They can't raise additional revenue and also be protectionist. Those things are, by definition, in conflict. Tariffs' long-term impact could also depend on who's in the White House next. The next president is not similarly inclined to keep these tariffs. We're not looking at a trillion in additional funds. We're looking at something significantly less. If a Democrat won the White House next, it doesn't mean all of Trump's tariffs would necessarily go away. Hodge points out that President Biden kept some of the tariffs that were imposed during President Trump's first term.

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What's happens to the revenue generated by Trump's tariffs?

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Global Tariffs