Revenue from President Donald Trump’s tariffs has climbed to $25 billion a month, according to the Committee for a Responsible Federal Budget.
The bipartisan group notes that monthly tariff revenue has leapt from $7 billion a year ago to $25 billion in July, The Washington Times reported. By the end of Trump’s term, they estimate, the tariffs could bring in $1.3 trillion “before accounting for economic effects.”
“These estimates are very rough,” the committee cautioned, meant to show scale rather than precision, given the complexity of tariffs and their ripple effects. They also exclude broader economic impacts, which could trim the deficit gains if tariffs slow growth or push prices higher.
Even so, analysts say the extra revenue won’t cover the cost of Trump’s One Big Beautiful Bill Act—a package that extended tax cuts, boosted border and military spending, and changed Medicaid eligibility. That law, they note, is expected to add to the national debt.
Still, the committee’s analysts say the tariff hikes are “likely to meaningfully reduce deficits if allowed to remain in effect.”
In July, prices rose 0.2%—2.7% year over year—matching June’s annual rate, according to the Consumer Price Index.
“It has been proven that even at this late stage, Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers,” Trump wrote on Truth Social Tuesday.
According to the Penn Wharton Budget Model, tariffs have raised nearly $130 billion this year, more than twice the amount of tariff revenue collected at this point last year.
