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 (B235RC1Q027SBEA) from Q1 1959 to Q1 2025 about receipts, imports, tax, federal, production, government, GDP, and USA.

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.

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: Customs duties (B235RC1A027NBEA) from 1929 to 2024 about receipts, imports, tax, federal, production, government, GDP, and USA.

If Trump's proposed tariffs are imposed on Mexico, Canada, and China, the United States' federal tax revenue would increase by an estimated 106 billion U.S. dollars, making up about 0.35 percent of the nation's GDP.

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.

According to estimates, President Trump's proposals to impose universal tariffs as well as tariffs on Chinese, Canadian, and Mexican imports would considerably increase the average tariff rate. If Trump's proposals go into effect, it is estimated that the average tariff rate of all imports would almost triple, marking the highest rate in the United States since 1969.

In 2023, the total revenues of the U.S. government totaled around 4.44 trillion U.S. dollars. Revenues consist of individual and corporate income taxes, payroll taxes and other taxes. Individual income taxes amounted to 2.18 trillion U.S. dollars in 2023, whereas corporate income taxes totaled 420 billion U.S. dollars.

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

Russia Federal Government Revenue: Oil & Gas: Export Tariffs data was reported at 47.300 RUB bn in Mar 2025. This records a decrease from the previous number of 69.100 RUB bn for Feb 2025. Russia Federal Government Revenue: Oil & Gas: Export Tariffs data is updated monthly, averaging 132.400 RUB bn from Jan 2018 (Median) to Mar 2025, with 87 observations. The data reached an all-time high of 348.200 RUB bn in Apr 2022 and a record low of -69.000 RUB bn in Jul 2024. Russia Federal Government Revenue: Oil & Gas: Export Tariffs data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Russia Premium Database’s Government and Public Finance – Table RU.FB006: Federal Government Revenue and Expenditure: General.

Americans' understanding of tariffs appears limited, with only 27 percent feeling very confident about their knowledge of the trade policy tool. This lack of awareness comes at a time when tariffs have become a significant topic in U.S. economic discussions, particularly in relation to international trade relations and domestic industry protection. Potential impact of proposed tariffs Despite the public's uncertainty, proposed tariffs could have far-reaching effects on the U.S. economy. If implemented, certain proposals could increase the average tariff rate on dutiable imports to nearly 18 percent, a substantial rise from the two percent rate in 2024. Such changes would not only affect dutiable goods but also impose taxes on previously duty-free imports, potentially leading to a sharp increase in the overall tariff burden. Estimates suggest that imposing tariffs on Mexico, Canada, and China could increase federal tax revenue by approximately 106 billion U.S. dollars, equivalent to 0.35 percent of the nation's GDP.

Russia Federal Government Revenue: Oil & Gas: Export Tariffs: Crude Oil data was reported at 0.000 RUB bn in Mar 2025. This stayed constant from the previous number of 0.000 RUB bn for Feb 2025. Russia Federal Government Revenue: Oil & Gas: Export Tariffs: Crude Oil data is updated monthly, averaging 43.500 RUB bn from Jan 2018 (Median) to Mar 2025, with 87 observations. The data reached an all-time high of 175.200 RUB bn in Dec 2018 and a record low of -5.700 RUB bn in Feb 2024. Russia Federal Government Revenue: Oil & Gas: Export Tariffs: Crude Oil data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Russia Premium Database’s Government and Public Finance – Table RU.FB006: Federal Government Revenue and Expenditure: General.

This data package includes the underlying data files to replicate the data, tables, and charts presented in Why Trump’s tariff proposals would harm working Americans, PIIE Policy Brief 24-1.

If you use the data, please cite as: Clausing, Kimberly, and Mary E. Lovely. 2024. Why Trump’s tariff proposals would harm working Americans. PIIE Policy Brief 24-1. Washington, DC: Peterson Institute for International Economics.

This table represents the breakdown of tax refunds by recipient (individual vs business) and type (check vs electronic funds transfer). Tax refunds are also represented as withdrawals in the Deposits and Withdrawals of Operating Cash table. All figures are rounded to the nearest million. As of February 14, 2023, Table VI Income Tax Refunds Issued was renamed to Table V Income Tax Refunds Issued within the published report.

Ford Motor Co. projects a $1.5 billion profit decrease this year, attributing it to tariffs and trade policy uncertainties, while emphasizing its US production advantage.

Federal Government Revenue: Oil & Gas: Export Tariffs: Gas在2025-03达47.100RUB bn，相较于2025-02的68.500RUB bn有所下降。Federal Government Revenue: Oil & Gas: Export Tariffs: Gas数据按月度更新，2018-01至2025-03期间平均值为57.600RUB bn，共87份观测结果。该数据的历史最高值出现于2022-04，达234.300RUB bn，而历史最低值则出现于2024-07，为-68.900RUB bn。CEIC提供的Federal Government Revenue: Oil & Gas: Export Tariffs: Gas数据处于定期更新的状态，数据来源于Ministry of Finance of the Russian Federation，数据归类于Russia Premium Database的Government and Public Finance – Table RU.FB006: Federal Government Revenue and Expenditure: General。

This table shows the gross receipts, refunds and net receipts for the current month, the current fiscal year-to-date and the prior fiscal year-to-date for the various receipts of the federal government. This table includes total and subtotal rows that should be excluded when aggregating data. Some rows represent elements of the dataset's hierarchy, but are not assigned values. The classification_id for each of these elements can be used as the parent_id for underlying data elements to calculate their implied values. Subtotal rows are available to access this same information.

This table represents the breakdown of taxes that are received by the federal government. Federal taxes received are represented as deposits in the Deposits and Withdrawals of Operating Cash table. All figures are rounded to the nearest million.

The lumber industry has experienced significant volatility in recent years, with fluctuating prices impacting both the market and wider economy. During the pandemic, a housing boom driven by low interest rates and increased disposable income led to a surge in demand for lumber, significantly boosting mill revenues. However, prices later tumbled, affecting revenue as higher interest rates cooled the housing market and reduced demand for construction. Lumber production and shipments experienced declines, and the industry faced operating losses due to decreased demand. Looking ahead, prices are expected to rise due to tariffs on Canadian lumber imports and previous supply shortages, although high mortgage rates may still dampen demand. The ongoing trade dispute between Canada and the U.S. has resulted in increased tariffs, impacting Canadian producers who supply softwood lumber to the US market. Industry revenue is expected to rise at a CAGR of 2.6% to $51.6 billion through the end of 2025, with 2.0% growth forecast for the current year. Industry profit is expected to recover alongside rising lumber prices this year as well. The US housing market plays a crucial role in the lumber industry by driving demand for wooden materials used in construction and renovation. Despite past challenges with high interest rates and elevated home prices hurting residential investments and reducing lumber demand, there is optimism that the recent Federal Reserve rate will eventually translate to lower mortgage rates, potentially rejuvenating the housing market and building material demand. Even with these promising signs, a significant affordability barrier remains as home prices continue to overshadow median incomes, discouraging many first-time buyers and thus impeding growth in the housing market, impacting lumber demand negatively. The industry is also dealing with profitability challenges due to high costs and declining lumber prices, which have led to sawmill closures and under-utilization of capacities, emphasizing the importance of operational efficiency. As a response, the industry is likely to see consolidation within domestic mill operations to maintain profitability amid market fluctuations. A notable development in the sector is the growth of the cross-laminated timber (CLT) specialist subsector, which promises a boom, supported by innovations in fire retardant technology and approvals for new timber certifications, like eastern hemlock trees, broadening opportunities for sustainable construction. Revenue is expected to increase at a CAGR of 1.6% to $55.9 billion through the end of 2030.