Trump revises his claims about tariff revenue, but he’s still wrong

Donald Trump recently claimed on social media that the United States is earning record tariff revenues. Contrary to the president’s assertions, data from Customs and Border Protection and a new analysis from The Associated Press revealed that Trump has significantly exaggerated the facts. The AP concluded that Trump’s favorite statistic is simply untrue.

Starting in February, Trump began increasing tariffs. In March, the most recent data available, the U.S. collected around $8.168 billion in customs duties, equivalent to approximately $263.48 million per day. The Treasury Department reported that the U.S. has collected about $3.076 billion in customs and excise taxes so far in April, averaging about $180.94 million per day.

During a White House event, Trump claimed that the U.S. is now earning $3 billion per day from tariffs, contradicting his previous assertion of $2 billion. However, a fact-check report by The Washington Post using data from the Treasury Department and Customs and Border Protection debunked Trump’s claims as inaccurate.

Despite the president’s repeated claims that tariffs could replace income taxes, experts argue that this idea is unrealistic. Trump’s proposal to create an “External Revenue Service” to replace the IRS is deemed impractical by economists and analysts. The latest data emphasizes that relying solely on tariff revenues to fund the government is not a viable approach.

The ongoing misinformation from the White House regarding tariffs and tax policies is causing harm to the U.S. economy and its international relationships. Trump’s exaggerated claims and unrealistic proposals are raising concerns about the administration’s competence and its impact on the country.