Tariffs revenue neared $30 billion this August — the first month of Trump’s full ‘reciprocal tariff regime

President Trump’s tariffs continued to add billions to US coffers as the summer ended with customs duties bringing in about $29.5 billion in August.

The final data for the month — released Thursday afternoon in the latest monthly statement from the US Treasury Department — confirmed another record after a July total of $27.7 billion.

The latest data also represents the first full month of receipts since new “reciprocal” tariffs went into effect on Aug.7. That move saw Trump levy duties of between 10% and 50% on importers bringing in a variety of goods from around the globe.

The new tariff revenue results also came on the same day that the question of who ultimately pays the tariffs was raised by a sticky inflation report for August. Many economists quickly attributed that result to tariffs putting upward pressure on prices.

RSM chief economist Joe Brusuelas noted Thursday in a live appearance on Yahoo Finance that when he looks at some of the price increases, “Those are tariffs.” The effects, he said, could be most clearly seen in areas like food and apparel.

Read more: What Trump’s tariffs mean for the economy and your wallet

President Trump and Treasury Secretary Scott Bessent have meanwhile repeatedly touted the new revenues, with Bessent posting recently that “as collection continues to grow, the Trump Administration is fixing the financial shambles it inherited.”

The limited windfall could also prove short-lived, with a key swath of Trump’s tariff actions being deemed unlawful by two courts and awaiting a final ruling — likely before the end of the year — by the Supreme Court.

The tariffs facing legal challenge are precisely these new blanket “reciprocal” duties imposed under a 1977 law called the International Emergency Economic Powers Act.

Other revenues coming in via sectoral tariffs rely on more legally sound authority, which is not being challenged.

Bessent has estimated that a negative ruling could force the Trump administration to give back about half of the revenues it has collected in recent months.

Read more: The latest news and updates on Trump’s tariffs

For now, the new totals represent the latest in a series of steps up from June’s total of $26.6 billion and May’s total of $22.2 billion.

Tuesday’s release also brings the total receipts for the fiscal year to around $165.2 billion. The government’s fiscal year ends Sept. 30.

Trump has also frequently touted the new revenue source, writing recently that it “has been incredible for our Country, its Stock Market, its General Wealth, and just about everything else.”