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US-China trade war: Tariff revenue reaches record $7.1B in September

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Friday, 08 November, 2019, 20:40
US-China trade war: Tariff revenue reaches record $7.1B in September

The U.S. government pulled in a record $7.1 billion from tariffs in September, new data shows.

Revenue from tariffs on goods like electronics and apparel rose by 59 percent versus a year ago, and increased by $600 million from August, according to U.S. Census Bureau and Department of Agriculture data analyzed by Tariffs Hurt the Heartland, a bipartisan group focused on telling the stories of Americans hurt by tariffs.

The increased revenue was the result of the U.S. levying a new 15 percent tariff on $111 billion of Chinese goods beginning Sept. 1. The U.S. has placed tariffs on more than $360 billion of Chinese goods amid its more than year-long trade war with Beijing.