President Donald Trump announced that his administration would impose 50% tariffs on imported copper, marking a new growth in its widespread levy policy.
Tariff Revenue Revenue has a record of $ 113 billion for the first time for the first time during the financial year – a revelation that comes as President Donald Trump Some of the world’s largest economies are closely close to weekly duties.
According to data from the Treasury Department’s “Customs and Some Excise Taxes”, the US received more than $ 27 billion in customs duties in June, the highest figure so far this year. Compared to last June, this year’s figures are 301%above.
A list of countries facing the latest tariff of Trump
In January, tariff revenue grew by about $ 7.9 billion and double in April, which increased to $ 16.3 billion. Meanwhile, July is on track to continue as a revenue contributor for the federal government.
So far this month, Trump has announced a plan to impose 30% tariffs on imports from Mexico and all 27 countries that form the European Union.
Shipping container at Houston Port of Authority on 10 February 2025 in Texas. (Brandon Bell / Getty Images)
The administration has said that it will place 50% levy on Brazil’s copper imports and products and 35% tariffs on Canadian goods.
They TariffSlated to be effective on August 1, are already facing similar measures in more than 20 countries.
Treasury Secretary Scott Besant And business advisor Peter Navaro has earlier stated that the administration predicts that tariffs can generate more than $ 300 billion for the federal government.
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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.
