President Donald Trump has said U.S. tariffs are bringing in $3 billion of revenue a day. He has suggested they could one day replace income taxes.
Thus far, the data from the U.S. Treasury Department’s daily statements tell a different story.
Since tariffs rates were raised to current levels on April 9, the U.S. has collected $14.7 billion in revenue from imports, a 135% jump over the same days in 2024, and up 83% versus the comparable March 2025 period.
That’s a daily average of $918 million, far less than Trump cited earlier this month.