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How much has the tariffs brought in as of today
Executive summary
Official and independent trackers show tariff collections rose sharply in 2025: the Treasury’s Monthly and other trackers report figures ranging from about $165 billion through August to $195–202 billion for Fiscal Year (FY) 2025, while some research groups estimate cumulative 2025 calendar‑year receipts of roughly $88–146 billion through mid‑year depending on definitions and netting of refunds (examples: USAFacts $165.2B to Aug.; Treasury final FY number $195B; CRFB and Fortune cite $195–202B) [1] [2] [3]. Coverage is fragmented — different outlets report through different dates and use different measures (gross payments, net customs duties, calendar vs fiscal year) [4] [1].
1. What headline numbers the press and watchdogs are using — and why they differ
Journalists and budget shops point to several headline totals: the Committee for a Responsible Federal Budget and Fortune cite about $195 billion (or $202 billion in some reporting) in customs duties for FY2025, while USAFacts recorded $165.2 billion through August 2025; contemporaneous trackers such as Bipartisan Policy Center and PIIE update near‑real‑time daily or monthly Treasury receipts and show evolving totals [2] [3] [1] [4] [5]. Differences stem from date cutoffs (calendar vs fiscal year), whether the figure is gross payments posted by importers or net of later refunds and exclusions, and whether sources include other “customs and certain excise” line items from Treasury statements [4] [1].
2. How analysts parse “net” revenue vs. payments
Some analysts separate gross tariff payments from net revenue to the Treasury because refunds, exclusions, and legal reversals can reduce final receipts. Tax Foundation noted about $117 billion in payments through mid‑September but warned the actual net revenue will be lower after accounting for offsets and refunds; Yale’s Budget Lab estimated the new 2025 tariffs raised roughly $88 billion in revenue so far and as much as $146 billion in net customs duties for calendar year 2025 through August depending on methodology [6] [7]. The Congressional Budget Office and other scorekeepers also adjust for exemptions and dynamic effects, which changes multi‑year projections [8] [9].
3. Legal risk and potential refunds that could trim these totals
Lower federal courts have ruled many IEEPA‑based tariffs unlawful, and appeals — and a Supreme Court review — could force refunds and materially lower projected receipts; CRFB and Fortune flag that up to ~$90 billion of the $195 billion could be refundable if courts uphold lower‑court rulings, while the tariffs remain in effect until final resolution [2] [10]. That legal uncertainty means headline collections overstate guaranteed revenue until cases are settled [2] [10].
4. The budgetary context: short‑term boost vs long‑run effects
Budget shop estimates and academic models diverge on the medium‑ and long‑run fiscal effect. Some projections treat tariffs as a near‑term revenue source that helped reduce the 2025 deficit, but the CBO and Tax Foundation warn that tariff‑driven output losses, higher consumer prices, and retaliatory measures can reduce or reverse revenue gains over a decade — Tax Foundation’s model, for example, estimates the IEEPA tariffs could raise $1.3 trillion over ten years in a conventional accounting but that including economic responses and retaliation trims that figure by hundreds of billions [9] [8]. CBO’s updates show the effective tariff rate rose sharply (about 14 percentage points higher as of Nov. 15 vs a year earlier) but also that subsequent tariff rollbacks through November reduced projected deficit reduction [8] [11].
5. What real‑time trackers add — composition and monthly flow
Daily and monthly trackers (Treasury Daily Statements compiled by policy centers) show that duties spiked in mid‑2025 with some months above $30 billion and a notable rise in Chinese‑origin collections because of large import volumes and high applied rates; PIIE and the Bipartisan Policy Center publish charts showing which goods and countries drive receipts and stress that effective revenues are often lower than headline statutory rates because of exclusions and de minimis rules [4] [5] [12]. Wikipedia and other aggregators also note monthly revenue surpassing $30 billion by September 2025, though these aggregate summaries draw on the same underlying Treasury and Census data [12].
6. Bottom line and reporting caveats
Available sources do not agree on a single “as of today” number because outlets use different end dates, fiscal vs calendar accounting, and gross vs net concepts; reasonable, sourced ranges from the reporting include roughly $165 billion through August (USAFacts), about $195–202 billion for FY2025 final Treasury tallies cited by CRFB and Fortune, and analyst snapshots of $88–146 billion in new‑tariff revenue through mid‑year depending on netting choices [1] [2] [3] [7] [6]. Given ongoing litigation and evolving exclusions, reported collections are provisional and may be reduced by refunds or future policy changes [2] [10].
If you want, I can pull the most recent Treasury Daily or Monthly statement in these sources’ trackers and produce a single reconciled figure with a clear explanation of which adjustments I applied (gross vs net, fiscal cutoff, and treatment of refunds).