$2 billion a day? Trump’s own customs agency vastly undercuts his tariff boast

Key Takeaways:

• President Trump’s claim of $2 billion in daily tariff revenue is contradicted by official data.
• U.S. Customs and Border Protection reports a daily average revenue of $250 million.
• A “glitch” in tariff collection led to delays and IOUs instead of immediate payments.
• New tariffs range from 10% to 49%, based on trade deficits with each country.
• A 90-day grace period was instituted, minimizing rates for most countries except China.

A Clash Between Presidential Claims and Customs Data

President Donald Trump has repeatedly boasted that the United States is collecting $2 billion a day in tariff revenue due to his trade policies. “We’re taking in almost $2 billion a day in tariffs. Two billion a day,” he declared during an executive order signing on April 8 and reiterated at a National Republican Congressional Committee dinner.

Official Figures Tell a Different Story

Contradicting the president’s assertions, U.S. Customs and Border Protection (CBP) provided data indicating significantly lower revenue. In a statement to CNBC, CBP stated, “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.”

This amounts to an average of $250 million per day, far short of the $2 billion claimed by Trump. The figures highlight a discrepancy between the administration’s public statements and the official data collected by its own agencies.

Tariff Collection Glitches and IOUs

Adding to the complexity, a reported “glitch” in the tariff collection process affected revenue. An exemption code for ships that had already set sail for U.S. ports before the tariffs took effect led port officers to delay tariff collection. Instead of immediate payments, officers accepted IOUs, allowing vessels to pay the amounts later.

Despite these issues, CBP emphasized that “CBP’s average $250 million/day revenue stream remained uninterrupted.” The agency’s assurance suggests that the operational hiccups did not severely impact the overall revenue flow, yet the figures still do not align with the president’s claims.

Skepticism from Trade Experts

Even before CBP released its figures, trade experts expressed doubt over Trump’s $2 billion per day assertion. The significant gap between the claimed and reported revenues raises concerns about the accuracy of information disseminated by the administration regarding its trade policies.

Understanding the Tariff Policies

President Trump’s tariffs involve new import duties ranging from 10% to 49% on goods from virtually every other country. The rates are determined based on the size of the trade deficit the United States has with each nation. These measures aim to address trade imbalances but have sparked controversy both domestically and internationally.

The 90-Day Grace Period and Its Implications

In response to outcry from business leaders, lawmakers within his own party, and significant stock market drops, President Trump implemented a 90-day grace period. During this time, all countries except China will face the minimum tariff rate of 10%. This move appears to be an attempt to mitigate the immediate economic impact and ease tensions resulting from the abrupt policy changes.

Conclusion

The contrast between President Trump’s statements and the data provided by U.S. Customs and Border Protection underscores the importance of transparency and accuracy in discussing trade policies. As tariffs continue to shape the economic landscape, scrutinizing official claims remains crucial for understanding their true impact on the nation’s revenue and global trade relations.