The Wall Street Journal: U.S. raked in record $7 billion in tariffs in September, up nearly 60% from previous year

This post was originally published on this site

WASHINGTON — The U.S. collected a record $7 billion in import tariffs in September, fresh figures show, as new duties kicked in on apparel, tools, electronics and other consumer goods from China.

Tariff revenue jumped 9% from August and was up more than 59% from a year earlier. The revenue is a bounty for the U.S. Treasury, but is an increasing burden on the American businesses that import Chinese products — and their customers.

The new figures are based on an analysis of official Commerce Department data compiled by Trade Partnership, an economic consulting firm. The data was released by Tariffs Hurt the Heartland, a coalition of business and agricultural groups who oppose the tariffs.

The sharp rise was driven by a new 15% levy on consumer goods that went into effect Sept. 1. Imports of these items were valued at $111 billion last year, according to an analysis by The Wall Street Journal.

An expanded version of this report appears on

Also popular on

SoftBank founder calls his judgment ‘really bad’ after $4.7 billion WeWork hit.

If Warren scraps private health care, beware the unintended consequences.