Where Trump’s Tariffs Will Go

Trump’s (R) Tariffs finally took effect Thursday, setting the Stage for upheaval in Global Trade and New Costs for American Businesses and Consumers. They may also bring in a Significant Amount of New Revenue, according to Administration Officials. Republicans in Washington have been hopeful that the Administration’s Tariff Policies would bring in Money that can help Offset a New Tax Law, that is expected to add more than $3.4 trillion to the Debt over the next 10 years.

"Tariffs that have already been Implemented brought in $30 billion last month", Howard Lutnick (R), Secretary-of-Commerc said, adding that Forthcoming tariffs on semiconductors and pharmaceuticals could mean the total proceeds will “ultimately reach $1 trillion.”

“Those are amazing numbers,” He said. “Everybody understands you’ve got to sell to the American consumer. The American consumer is the most "powerful factor on the Earth for the economy, and Trump is harnessing it for the benefit of the American people.”

Customs and Border Protection (CBP), the U.S. Agency responsible for Collecting Tariff Revenue, reported in late June. that it had Collected $81.5 billion in Tariff Revenue since Trump took Office. That Money largely comes from Companies Importing Goods into the U.S., which can often get Passed Down to American Consumers.

Companies that Import Products into the U.S. usually Pay for the Cost of Tariffs, which are Collected at Ports of Entry by CBP. That Money goes into the General Fund, which can be used by Congress Designates it should be Spent.

Trump and most Republicans have said the Primary use for Tariffs will be to Pay for a Portion of the Country’s $1.3 trillion Deficit. Trump has also floated the Idea of Sending Rebate Checks back to Americans using Tariff Revenue, which would Require Congress to pass a Bill to do so.

The Tariffs put-in-Place under the Trump Administration are the Largest the Country has Imposed since the Great Depression.

In 1930, as Industries across the U.S. Suffered in the Economic Downturn, Congress Approved the Smoot-Hawley Tariff Act, which Implemented High Tariffs on Tens-of-Thousands ofGgoods to Protect American Companies.

It prompted Retaliation from other Countries and Slowed World Trade. Former President Franklin Delano Roosevelt (D) ran on Lowering Tariffs in 1932, and Congress gave Him More Power to Negotiate Deals with other Countries on Tariffs in 1934.










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