In 2025, President Trump announced plans to implement a universal baseline tariff of 10 percent. Estimates show that a 10 percent universal tariff on imported goods would raise U.S. revenue by 2.95 trillion U.S. dollars, while a 20 percent tariff would raise revenue by 2.62 trillion U.S. dollars. Comparatively, imports before Trump's proposed taxes would increase revenue by 3.28 trillion U.S. dollars. By enacting tariffs on all imports, significantly less foreign-produced goods would be purchased, thus decreasing the overall amount of imported goods.

This data package includes the underlying data to replicate the charts, tables, and calculations presented in The US Revenue Implications of President Trump’s 2025 Tariffs, PIIE Briefing 25-2.

If you use the data, please cite as:

McKibbin, Warwick, and Geoffrey Shuetrim. 2025. The US Revenue Implications of President Trump’s 2025 Tariffs. PIIE Briefing 25-2. Washington: Peterson Institute for International Economics.

Customs and other import duties (% of tax revenue) in United States was reported at 2.7662 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Customs and other import duties (% of tax revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Graph and download economic data for Federal government current tax receipts: Taxes on production and imports (NA000324Q) from Q1 1947 to Q1 2025 about receipts, imports, tax, federal, production, government, GDP, and USA.

In the United States, the revenue from customs duty amounted to 80 billion U.S. dollars in 2023. The forecast predicts a slight increase in customs duty revenue to 97 billion U.S. dollars in 2024, and an increase over the next decade to 96 billion U.S. dollars by 2034.

Graph and download economic data for Federal government current tax receipts: Taxes on production and imports: Customs duties (B235RC1A027NBEA) from 1929 to 2024 about receipts, imports, tax, federal, production, government, GDP, and USA.

Key information about United States Tax Revenue

• US Tax Revenue was reported at 510.819 USD bn in Jan 2025.
• This records an increase from the previous figure of 451.093 USD bn for Dec 2024.
• US Tax Revenue data is updated monthly, averaging 107.897 USD bn from Dec 1967 to Jan 2025, with 686 observations.
• The data reached an all-time high of 851.434 USD bn in Apr 2022 and a record low of 10.507 USD bn in Oct 1968.
• US Tax Revenue data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Tax Revenue: USD: Monthly.

CEIC calculates monthly Tax Revenue as the sum of Individual Income Taxes, Corporation Income Taxes, Social Insurance Taxes, Excise Tax, Estate and Gift Taxes and Customs Duties. The Bureau of the Fiscal Service provides Tax Revenue in USD.

Daily overview of federal revenue collections such as income tax deposits, customs duties, fees for government service, fines, and loan repayments.

Key information about US Tax revenue: % of GDP

• United States Tax revenue: % of GDP was reported at 16.6 % in Dec 2024.
• This records an increase from the previous number of 16.2 % for Dec 2023.
• US Tax revenue: % of GDP data is updated yearly, averaging 17.0 % from Dec 1968 to 2024, with 57 observations.
• The data reached an all-time high of 19.5 % in 2000 and a record low of 13.7 % in 2009.
• US Tax revenue: % of GDP data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Tax Revenue: % of Nominal GDP: Annual.

CEIC calculates annual Tax Revenue as % of Nominal GDP from monthly Tax Revenue and annual Nominal GDP. Tax Revenue is calculated as the sum of Individual Income Taxes, Corporation Income Taxes, Social Insurance Taxes, Excise Tax, Estate and Gift Taxes and Customs Duties. The Bureau of the Fiscal Service provides Tax Revenue in USD. The Bureau of Economic Analysis provides Nominal GDP in USD.

Tax revenue (% of GDP) in United States was reported at 10.65 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Tax revenue (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In 2024, the total revenues of the U.S. government totaled around 4.92 trillion U.S. dollars. Revenues consist of individual and corporate income taxes, payroll taxes and other taxes. Individual income taxes amounted to 2.43 trillion U.S. dollars in 2024, whereas corporate income taxes totaled 530 billion U.S. dollars.

Government Revenues in the United States increased to 526445 USD Million in June from 371229 USD Million in May of 2025. This dataset provides - United States Government Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of April 9, 2025, the United States levied a revised baseline of 10 percent on all goods imported from countries of the Middle East and North Africa .Based on the initial tariff calculation of April 3, the rates of imported goods would have varied by country in the region, with Syria and Iraq at 41 and 39 percent, respectively. Tariffs and their effects he intertwined nature of global trade and supply chains implies that the shockwaves of significant policy changes and economic turbulences spread more easily across countries. This was illustrated in the effects of new United States tariffs on Arab countries, where projections show a 1.4 percent decrease in investments in the Gulf Cooperation Council (GCC). Meanwhile, the impact of these tariffs on the Middle East and North Africa (MENA) imports forecast a 28 percent decrease in imports from the United States to the Arab region. Middle East-United States trade relations The nature of trade relationships between the United States and the Middle East is often influenced by geopolitical and security realities, with Israel, UAE, and Saudi Arabia being the leading bilateral trading partners. A particularly strong trade relationship exists between the GCC countries and the United States, evident in the value of exports from the former to the latter. On the other hand, the value of exports from the broader Arab region to the United States fell considerably in the last decade, largely due to petroleum and oil revenue decrease.

According to a scenario where the U.S. introduced higher tariff rates to its trading partners, the net income of luxury companies such as Burberry and Swatch could suffer significantly. The scenario assumed a ** percent tariff rate to Mexico and ** percent rate to China and the rest of the other countries.

United States US: Revenue and Grants: Revenue: Taxes on Exports: % of Tax Revenue data was reported at 0.000 % in 2016. This stayed constant from the previous number of 0.000 % for 2015. United States US: Revenue and Grants: Revenue: Taxes on Exports: % of Tax Revenue data is updated yearly, averaging 0.000 % from Sep 1972 (Median) to 2016, with 45 observations. United States US: Revenue and Grants: Revenue: Taxes on Exports: % of Tax Revenue data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Government Revenue, Expenditure and Finance. Taxes on exports are all levies on goods being transported out of the country or services being delivered to nonresidents by residents. Rebates on exported goods that are repayments of previously paid general consumption taxes, excise taxes, or import duties are deducted from the gross amounts receivable from these taxes, not from amounts receivable from export taxes.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

If proposed tariffs of 25 percent on goods imported into the United States from Mexico and Canada were put into effect, tax revenue would be impacted. Tax revenue from Mexican wine imports are projected to increase by 108 million U.S. dollars while taxes from Mexican spirits imports would decrease by 1.4 billion dollars.

According to new estimations, if the 2025 tariffs were to remain in place, they would put more of a strain on households with lower income than those with more. The estimated tariff burden on households in the *** income decile is almost **** times that of the top decile.

Graph and download economic data for Federal government current tax receipts (NA000327Q) from Q1 1947 to Q1 2025 about receipts, tax, federal, government, GDP, and USA.

In 2023, revenue from individual income tax accounted for 49 percent of total tax revenues collected by the U.S. federal government. By 2029, these taxes are expected to account for 52 percent, reflecting a small decrease. Corporation income tax, however, is expected to increase from 9.4 percent in 2023, to 10.9 percent by 2029.

Taxes on international trade (% of revenue) in United States was reported at 1.6737 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - Taxes on international trade (% of revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.