Which countries were the primary sources of US tariff revenue in 2024?
This fact-check may be outdated. Consider refreshing it to get the most current information.
Executive summary
China was the single largest source of U.S. tariff revenue in 2024, driven by large import volumes and high, trade-weighted tariff rates applied to Chinese goods (sources estimating China’s share and noting high rates) [1] [2]. Total customs duties for FY2024 are reported around $77–97 billion in different datasets and forecasts, with official budget agencies and trackers showing tariffs rose sharply after new policy actions but remained substantially lower in 2024 than the surge seen in 2025 [3] [4] [5].
1. China: the dominant revenue source
Multiple trackers and visualizations identify Chinese imports as the largest single contributor to U.S. tariff collections because China supplied a large share of U.S. import value and faced higher-than-average effective tariff rates; one estimate put Chinese-origin duties at roughly $205.2 billion when applying 2024 trade flows to then-current tariffs in a broader projection exercise (visualization noted by Visual Capitalist) and policy trackers explicitly state duties on Chinese goods comprise the largest single source of tariff revenue [1] [2]. Available sources do not provide a single unified official dollar figure for China-only 2024 tariff receipts, but both independent trackers and policy shops emphasize China’s outsized role [1] [2].
2. Mexico and Canada: large importers but tariff treatment varies
Mexico and Canada figure among the top contributors by import value, but their effective share of tariff revenue is complicated by preferential treatment under USMCA and by claims of preference that reduced duties; the CBO and later analysts note a growing share of Canada/Mexico imports are claiming lower or zero duty rates under USMCA, which reduces their tariff revenue contribution relative to raw import volumes [6] [7]. Visual comparators put Mexico and Canada as the second- and third-highest sources by estimated “trade revenue” in a 2024-based chart, but official modeling (CBO) and later adjustments emphasize exemptions and preference claims that limit how much customs duties those imports actually raise [1] [7].
3. Official totals and differing aggregates: $77B to forecasted $97B for 2024
Public datasets report different headline totals for customs duties in 2024: USAFacts cites $77.0 billion in FY2024 customs duties collected by federal agencies (a commonly used aggregation of tariffs and related fees), while other forecasting series showed a projected rise to about $97 billion for calendar‑year 2024 in some models [3] [4]. The Congressional Budget Office provides projections and methodological context—CBO’s baselines and updates explain why totals differ across sources, because of changes in tariff law, scheduled expirations, and frequent administrative adjustments [6] [7].
4. Why country shares can be misleading: rates, volumes, exemptions
Country rankings depend on three moving parts: import volume from a country, the effective tariff rate applied to those goods, and whether goods qualify for exemptions or preferential rates (USITC and CBO explanations) [6]. Trackers such as the Bipartisan Policy Center and policy visuals stress that China’s large contribution comes from both high import volumes and elevated trade-weighted tariff rates, while Canada and Mexico’s large import flows often face lower effective tariffs because of trade agreements or claiming of preferences [2] [1] [7].
5. 2024 vs. 2025: a sharp break in revenue patterns
Multiple sources indicate tariff revenue rose substantially in 2025 after additional tariff actions; reporting contrasts “under $10 billion per month” in 2024 with monthly collections exceeding $30 billion by September 2025 in some accounts, and trackers through 2025 show greatly increased revenues as new duties were applied [5] [8]. That jump matters because any simple 2024 country ranking does not automatically project forward—policy changes in 2025 altered both the effective rates and the distribution of where revenue comes from [5] [8].
6. Caveats, alternative readings and where reporting is thin
Sources disagree on headline totals and methodology: visualizations that apply “current” tariffs to 2024 trade flows produce much larger estimated country-level revenues than official FY collections reported by USAFacts and CBO, because modeling assumes rates are static and ignores behavioral responses and exemptions [1] [3] [6]. Available sources do not provide an official, line‑by‑line government table of 2024 tariff revenue by country in the materials provided; researchers and trackers instead combine USITC trade flows, Treasury receipts, and modeled tariff schedules to produce ranked lists [1] [2] [9].
Bottom line: China was the primary source of U.S. tariff revenue in 2024 according to multiple trackers and visual analyses because of high import volumes and elevated effective rates; Mexico and Canada ranked next by import value but their tariff contributions were reduced by USMCA preferences and exemptions, and official aggregates for FY2024 fall in the $77–97 billion range depending on the dataset and methodology [1] [2] [3] [4] [6].