Bessent Says US Tariff Revenue Could be Well Over $500 Billion a Year
U.S. Treasury Secretary Scott Bessent said on Tuesday that customs duty revenues from President Donald Trump's tariffs may top $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.
Bessent told a White House Cabinet meeting that his prior estimate of a $300 billion annual tariff collection rate was too low.
"We had a substantial jump from July to August, and I think we're going to see a bigger jump from...
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