Trump's tariff revenue has skyrocketed. But how big is it, really?

"In 2024, customs and excise revenue totaled $98 billion, with tariffs contributing significantly to federal revenues, but still insufficient to replace income taxes."

"Tariffs accounted for 2.7% of federal revenues in fiscal year 2025, a notable increase historically, but still far from fulfilling all government funding needs."

Tariff revenue has surged, contributing more than $29 billion to federal customs and excise taxes, indicating a potential rise in overall revenue. In fiscal year 2025, tariffs have reached 2.7% of federal revenues, an increase from historical norms where they rarely exceeded 2%. Although Trump promotes tariffs as a replacement for income taxes, they cannot fulfill that promise, as even reaching 5% of total revenue would still be inadequate for major fiscal responsibilities such as reducing national debt. Businesses and consumers ultimately bear these tariff costs.

Read at www.npr.org