Jim Damre, president of Bank of America Global Markets, joined ‘Morning’ with Maria to weigh the success of global markets despite the initial tariff uncertainty and President Donald Trump’s push for AI dominance in America
As president Donald Trump The tariff revenue has climbed a record of $ 150 billion so far this year this year.
According to data from the Treasury Department’s “Customs and Some Excise Taxes”, the US collected about 28 billion dollars in customs in July, which is the highest monthly total of this year. The July figures have already crossed the monthly record of June by $ 27 billion based on data through data through 25 July.
In January, Tariff revenue About 7.9 billion dollars and more than doubled in April to $ 16.3 billion.
A full timeline of Trump’s tariff implementation strategy worldwide
Trump enters the last week of the high-day trade dialogue as the revelation. On Sunday, the president signed a deal European UnionA few days after announcing a separate agreement with Japan, America’s largest business partner.
President Donald Trump joined hands with the President of European Commission Ursula von Der Leyen as he announced a trade deal in Turnberry, Scotland on July 27, 2025 with the European Union at the Trump Turnberry Golf Club. (Brendon Smiyalowski / AFP Getty Image) / Getty Images)
Treasury Secretary Scott Besant Earlier it was said that the administration predicts that tariffs can generate more than $ 300 billion in revenue for the federal government. As the Trump administration has postponed rising tariff revenue, these are American businesses that pay high import taxes to the federal government.
However, the economic burden can eventually be passed to American consumers through high prices.
