The ongoing trade conflict between the United States and several other countries has had a significant impact on global economics. Despite this, President Donald Trump has claimed that the situation is beneficial for America.
During a meeting with El Salvador’s President, Nayib Bukele, on Monday, April 14, the 78-year-old Republican asserted that the US government is generating billions of dollars daily due to the tariffs imposed on countries like China and Canada.
Speaking to reporters from the Oval Office, Trump stated that America was previously ‘losing $2 billion a day,’ but under his administration, they are ‘now making $3 billion a day’.
However, a report by the New York Post challenges Trump’s claims, suggesting the numbers he mentioned are not entirely accurate.
Customs and Border Protection (CBP), the federal agency responsible for tariff collection on shipping containers and cargo-carrying aircraft entering the US, has commented on the situation.
“Since April 5, CBP has collected over $500 million under the new reciprocal tariffs, contributing to more than $21 billion in total tariff revenue from 15 presidential trade actions implemented since Jan 20, 2025,” the agency reported.
According to the publication’s calculations, including duties on goods such as foreign vehicles, aluminum, and steel, the total revenue amounts to approximately $250 million for the 84 days Trump had been in office from January 20 to April 14.
Other divisions, such as the Treasury Department, have also reported discrepancies with Trump’s figures. The department noted that the daily statement of total deposits under ‘Customs and Certain Excise Taxes’ showed $305 million on Monday and just $250 million on Tuesday.
Despite these inconsistencies, the US economy seems to be doing well, with the inflation rate dropping to 2.4 percent last month, the lowest since September, down from 2.8 percent in February.
However, this economic growth may be precarious, as evidenced by a recent drop in the US stock market following restrictions on computer chip exports to China.
This brings us to the various tariffs introduced by each nation.
On Tuesday, Trump signed an executive order to ‘launch an investigation into the national security risks posed by US reliance on imported processed critical minerals and their derivative products’.
The order stated: “China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions.”
In response, China announced last week an increase in tariffs on US imports, raising them from an additional 84 percent to a staggering 125 percent.