Trump Is Very Wrong About How Much the US Is Collecting From Tariffs – ryan

President Donald Trump Has Said Repeatedly That The Us Is The Massive Amounts of Money in Tariffs, but the Numbers Aren’t Adding Up.

“We’re Making A Fortune With Tariffs. $ 2 Billion A Day. Do You Believe It? speech to the National Republic Congressional Committee on April 8. He again cied The $ 2 Billion for Day Number at an Executive Order Signing the Same Day.

But Date from US Customs and Border Protections Shows that the actual tariff revenue is just a small faction of what Trump Said it is.

A spokesperson for CBP Told Business Insider that the agency has so far collined $ 500 million from Trump’s Broad Round of tariffs that went into place on april 5.

And in total, the agency said it has brought in $ 21 Billion in tariff-relay revenue through its enforcement of 15 Presidential Actions Trump Took Office Nearly Three Months Ago. That work out to a little under $ 250 million a day over the 86 days Since January 20.

IT’S NOT JUST The CBP’s Date That Doesn’t Match Up With Trump’s Numbers.

The Treasury Department of Daily Deposit Total for “Customs and Certain Excise Taxes” reported Over the seven weekedays SINCE APRIL 5 AVERAGES OUT TO $ 227 MILLION FOR DAY. The department’s month-to-date total as of tuesday is around $ 2.3 billion and its year-to-date Total for fiscal year that starts in october is about $ 55.5 Billion.

Trump Announched on April 2 The Details of His Long-Promised Tariffs Policy Tariffs, which Included A Baseline 10% Tariff on Nearly All Countries and Significantly Higfs on Countries He demeders “of Trade Deficites.

AFTER A MARKET MELTDOWN AND REPEATED Calls for Him to Find an Off-HIS Sweeping Policy, Trump Annoyed Last Week That He Wauld Be Paushing Most Tariffs, With The Exception of China, for 90 Days His Administration Trade Deals with Countries.

The White House Did Not Immediately Respond to A Request for Comment from Business Insider.