The U.S. Customs and Border Protection is seemingly contradicting President Donald Trump’s statement on the daily revenue generated by his latest round of tariffs.
According to the agency in a statement to CNBC on Monday, the CBP has collected over $500 million since April 5 under the new reciprocal tariffs, contributing to more than $21 billion in total tariff revenue from 15 presidential trade actions implemented since Jan 20, 2025.
The update comes after a 10-hour glitch in the finance system
The statement from the CBP regarding how much it has raised follows a glitch in the finance system that lasted a total of ten hours.
The glitch prevented U.S. importers from inputting a code that would have spared freight that was already on the water from getting slammed with higher duties.
This should have impacted the revenue stream, but according to the CBP’s statement, even during the glitch, its average $250 million/day revenue stream remained “uninterrupted.”
The statement directly contradicts what Trump, famous for his embellishments, has said about the revenues. According to the 47th American president, the United States is currently raking in at least $2 billion per day from tariffs, including revenues directly resulting from his so-called “reciprocal” tariffs.
He reportedly made the statement repeatedly even though the most recent data released on Monday by the Treasury Department confirms the department’s daily statement of total deposits listed under “Customs and Certain Excise Taxes” as $305 million.
All tariffs are collected by U.S. Customs at the point of entry.
New trade policies for the pharmaceutical industry expected amid tariff wars
In early April, the Trump administration saw fit to impose steep sweeping tariffs on dozens of countries it does business with. Then, while the world adjusted to the new development, the administration took a step back hours later, temporarily lowering most tariff rates to a universal 10%, except for tariffs on China, which it ratcheted up citing its retaliation as the reason.
Meanwhile, the administration maintained sector-specific tariffs on the automotive industry and is expected to announce new trade policies for the pharmaceutical industry.
In the meantime, China continues to resist. When the U.S. significantly increased tariffs on Chinese imports, with rates reaching at least 125% on all goods, including a 90% levy on packages under $800 previously exempt under the “de minimis” rule, China retaliated with tariffs on U.S. goods, escalating from 34% to 84%, and then to 125% effective April 12, 2025.
— Chinese Embassy in US (@ChineseEmbinUS) April 16, 2025
China’s Commerce Ministry says the country is prepared to “fight to the end,” but it may be willing to forget the drama if Trump is ready to “completely cancel” his tariffs regime, and “return to the right path of mutual respect”.
Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
