President Donald Trump is proving all the naysayers and globalists wrong, months into his tariff regime, as revenue to the federal treasury spikes and inflation remains low.

The Committee for a Responsible Federal Budget reported that in July alone, Trump’s tariffs brought in approximately $25 billion to the federal treasury, up from $7 billion during the same month under former President Joe Biden in 2024.

Bloomberg put the July monthly figure at $28 billion, marking a 273 percent increase from July 2024. Most of Trump’s new tariffs began coming into effect in April.

The Trump Administration brought in $29.6 billion of tariff revenue for July.
I would stay tariffs are working. pic.twitter.com/viy6gLsmDq

— Kate (@kate_p45) August 3, 2025

The CRFB said if Trump’s tariff policies stay in place, they will generate $1.2 trillion in additional revenue by the end of his term in 2028, and $2.8 trillion through 2034.

The committee noted that some of Trump’s tariffs are currently being challenged in federal court.

“On May 28, the U.S. Court of International Trade ruled tariffs enacted under the International Emergency Economic Powers Act (IEEPA) illegal, and various states and businesses are also challenging the tariffs. A higher court ruled that these tariffs will remain in effect pending an appeal,” according to the CRFB.

Fox Business host Larry Kudlow asked Treasury Secretary Scott Bessent to comment on the future of tariffs.

Bessent argued that even if the appeals court rules against Trump’s use of tariff authority, the ruling will also likely be stayed pending a review by the U.S. Supreme Court. And SCOTUS probably would not rule on the matter until sometime next year.

“The amount of money that’s coming in here. I think the more deals we’ve done, the more money coming in, it gets harder and harder for SCOTUS to rule against us,” the treasury secretary said.

“Just on the tariff income, I’ve been saying $300 billion, but I think we’re going to have to substantially revise that up, so well in excess of 1 percent of GDP,” Bessent added.

The federal government collected  $77 billion in tariff revenue under Biden in 2024.

Following Tuesday’s Bureau of Labor Statistics report that inflation came in at 2.7 percent in July, slightly under expectations, Trump posted on Truth Social, “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.

“Also, it has been shown that, for the most part, Consumers aren’t even paying these Tariffs, it is mostly Companies and Governments, many of them Foreign, picking up the tabs,” he added.

Trump’s team has successfully negotiated agreements with the European Union, Japan, the United Kingdom, Indonesia, South Korea, Vietnam, and the Philippines, CBS News reported.

For other nations, he has imposed various tariff rates, often around 15 percent.

The CRFB concluded the tariffs are “producing meaningful deficit reduction.”

The group argued, “Although there are many legitimate concerns over the tariffs — including their impact on the economy and the level of uncertainty they are creating — policymakers should not repeal them without an adequate replacement for the revenue loss. Nor should they divert the revenue away from deficit reduction and toward new spending, tax cuts, or rebates.”

Let’s get the deficit down and allow tariff revenue to help make it happen.

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