The United States witnessed a sharp rise in customs duties in April on the back of U.S. President Donald Trump’s tariff policy.
The U.S. Treasury Department said Monday that the country collected 16-point-three billion dollars in customs duties in April, a record monthly high.
That’s an increase of 87 percent, or seven-point-six billion dollars, from a month earlier.
According to the Wall Street Journal, since the start of the fiscal year in October, the U.S. has collected 63-point-three billion dollars in customs duties, a 15-point-four billion dollar increase from the same period a year earlier.
The newspaper said new tariffs generally take about a month to show up as revenue in the government’s accounting.
It added that the April increase likely reflects the Trump administration’s tariffs on steel and aluminum, its tariffs on products from Mexico and Canada, and the reciprocal tariffs it rolled out during the month.