US Tariff Revenues Decline for the First Time After No New Duties Added
US tariff revenues declined for the first time since former President Donald Trump began implementing his landmark trade policies, according to new data released by the US Treasury Department.
The Treasury’s monthly statement showed that customs duties collected in November totaled $30.76 billion, down from $31.35 billion in October, marking the first monthly drop since the expansion of tariff measures.
The decline came after the administration did not introduce any new tariffs during the month, leading to a pause in revenue growth from trade duties.
Separately, delayed government data showed that the US trade deficit unexpectedly narrowed in September to its lowest level since 2020.
The deficit fell by 10.9% to $52.8 billion, supported by a 3% rise in exports to $289.3 billion, while imports edged up by just 0.6%, according to the US Commerce Department.
The Treasury’s monthly statement showed that customs duties collected in November totaled $30.76 billion, down from $31.35 billion in October, marking the first monthly drop since the expansion of tariff measures.
The decline came after the administration did not introduce any new tariffs during the month, leading to a pause in revenue growth from trade duties.
Separately, delayed government data showed that the US trade deficit unexpectedly narrowed in September to its lowest level since 2020.
The deficit fell by 10.9% to $52.8 billion, supported by a 3% rise in exports to $289.3 billion, while imports edged up by just 0.6%, according to the US Commerce Department.
