U.S. Tariff Revenue Projected to Rise Sharply, Aims to Reduce National Debt

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-08-19 21:53:02

BTCCSquare news:

Treasury Secretary Scott Bessent has revised his earlier estimate of $300 billion in U.S. tariff revenue for 2025 upward, citing record-high collections. July's tariff revenue hit $27.7 billion, a stark increase from $8 billion the previous year. Fiscal year-to-date customs duties total $135.7 billion, the highest on record.

Bessent emphasized plans to allocate the additional revenue toward reducing the national debt, with the goal of bringing the deficit-to-GDP ratio down. "Once the debt is settled at a healthy level, it can be used as an offset to the American people," he stated during a CNBC interview. The average tariff rate now stands at 18.6%, the highest since 1933, driven by policies targeting major trading partners.

By:

Log in to Reply

Google Eases Android App Payment Restrictions in Europe to Comply with DMA

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.