The US predicts $7 trillion in revenue from import duties over the decade

20:00; 27 July 2025 year

The United States expects to receive about $7 trillion over 10 years through the collection of customs duties, informs TASS with reference to the statement of the US Secretary of Commerce Howard Latnik to the Western media.

— Revenue from duties is amazing, $700 billion a year. The government has never received such funds before. If you receive them within 10 years, you will get $7 trillion," the Soldier noted.

In early April, Treasury Secretary Scott Bessent estimated possible annual revenue from the new tariffs at $300 billion to $600 billion. However, recent calculations have shown higher rates.

Latnik stressed that the administration has no plans to extend the August 1 deadline for the introduction of new duties. At the same time, he left an opportunity for negotiations.

On April 2, US President Donald Trump announced the imposition of duties on goods from 185 countries and territories. The universal tariff of 10% is valid from April 5. A 25% tariff on all imported cars has been introduced since April 3. Some of the retaliatory measures were suspended for 90 days for trade consultations.

On June 27, Trump clarified that within a week and a half, countries with which separate agreements will not be concluded will be notified of the new terms of trade. The updated tariffs are expected to take effect on August 1, although the deadlines may be revised in exceptional cases.

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