Multiplying the most recent month of US tariff collections by a full decade would not cover the 10-year costs of President Donald Trump’s new tax-and-spending legislation, much less all federal deficits during that decade. The current tariffs are slated to increase on August 1, including levies ranging from 20 percent to 40 percent for 21 countries,  based on what the Trump administration has said.

An analysis by the Congressional Budget Office (CBO) – Congress’s nonpartisan number-crunching arm – also projects that 10 years of tariff revenue increases under Trump will not pay for the added deficits from his bill or the cumulative deficits over the next decade. The projected added deficit from the bill is $3.4 trillion, on top of the existing projected deficit over the next decade of $21.8 trillion.

“I can’t envision a scenario where the tariff revenues eliminate the deficit,” said Steve Ellis, president of Taxpayers for Common Sense, a group that tracks the federal budget.

The White House did not respond to a request for comment for this story.

How much is the US collecting from Trump tariffs?

The federal government has been taking in higher tariff revenues under Trump’s more aggressive tariff policies. Currently, the tariffs are a baseline 10 percent for all countries, plus additional tariffs on some products such as steel. Economists say consumers will ultimately swallow much of the tariff increases.

Federal tariff revenue tracked by the Penn-Wharton Budget Model shows that, up to July 11, the federal government had collected about $100bn in tariffs so far this year. During the same period in 2024, before Trump took office, the federal government had collected less than $48bn in tariff revenue.

In June 2025, the most recent monthly data available, the federal government took in $27bn in tariffs, according to the Treasury Department. A year earlier, that figure was $6bn. That’s an increase of $21bn a month because of Trump’s trade policies.