The trade duties imposed by the US administration have brought about $88 billion in revenue to the American economy, President Donald Trump said at a White House event dedicated to his budget and tax plans, EDnews reports.
He said congressional experts informed him that the United States was taking in "much more money than we have scheduled." As the American leader explained, according to these data, the United States "has taken in $88 billion in tariffs." Trump did not elaborate.
Kevin Hassett, head of the National Economic Council at the White House, said in late May that the United States has received $50-60 billion in tariff revenue since the introduction of duties.
On April 2, Trump announced the introduction of customs duties on products from 185 countries and territories. Russia is not on the list. Universal tariffs of 10% came into force on April 5, individual tariffs on April 9. On the same day, the US president announced a 90-day suspension of some retaliatory duties, which, as explained in the White House, is related to trade consultations. A universal tariff of 10% is valid for this period.
