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What was the total US tariff revenue collected in 2024 compared to 2023?
Executive summary
Available sources show that U.S. customs duties (tariff revenues) were about $77 billion in FY2024; reporting and budget trackers indicate a large jump in FY2025 collections (reports cite $151–195 billion through various measures), implying FY2025 receipts were roughly double to more than triple FY2024 levels depending on the measure used (e.g., $195 billion for FY2025 vs. $77 billion in FY2024) [1] [2]. Coverage is uneven across calendar vs. fiscal year and gross vs. net measures; different analysts use different Treasury and CBP series, so comparisons require care [3] [4].
1. Clear baseline: What official 2024 revenue numbers say
The Congressional Research Service and data aggregators report that Customs and Border Protection collected about $77.0 billion in customs duties in FY2024, which the CRS frames as roughly 1.57% of total federal revenue for that fiscal year [4] [1]. Other academic summaries and commentators use nearby figures (for example, some analyses round tariff revenue to about $86 billion when discussing broader tax-offsets), but the commonly cited FY2024 CBP/Treasury number in these sources is $77 billion [5] [1].
2. The reported 2025 surge and how sources quantify it
Multiple outlets and budget shops documenting 2025 policies report a sharp increase in customs duties in FY2025. The Committee for a Responsible Federal Budget (CRFB) cites final Monthly Treasury Statement figures showing $195 billion in customs duties for FY2025 — described as roughly a $118 billion (about 150%) increase over duties collected in 2024 [2]. USAFacts and other trackers report year‑to‑date jumps (e.g., FY2025 cumulative through August at $165.2 billion) that align with this large rise versus FY2024 levels [1].
3. Different metrics, different story: fiscal year vs. calendar year, gross vs. net
Analysts caution that comparing years requires picking the same accounting series. Tariff revenue is recorded in Treasury statements under “DHS – Customs and Certain Excise Taxes,” and some trackers adjust that series for “Certain Excise Taxes,” rebates, and refunds to get a net tariff number [3]. The CRFB and other pieces that highlight a 150% jump are using Treasury monthly/fiscal-year totals; other commentators (e.g., think tanks and budget models) sometimes report different aggregates or modeled “gross” scenarios that yield much larger hypothetical numbers, so direct apples‑to‑apples comparisons must follow the same series [2] [3] [6].
4. Reconciling headline comparisons: what “total collected in 2024 vs 2023” really means
Your original query asked for total U.S. tariff revenue in 2024 compared to 2023; the available sources emphasize FY2024 totals ($77 billion) and then contrast FY2025 collections to FY2024. Explicit calendar‑year 2023 vs 2024 totals are not spelled out in these particular search results; some pieces reference 2023 context but do not give a single consolidated 2023 tariff total in the provided snippets. Therefore, available sources do not mention a definitive 2023 vs. 2024 calendar‑year comparison number in the search results provided here [7] [4].
5. How analysts explain the change and caveats to attribution
Analysts attribute the FY2025 increase to new and expanded tariffs implemented in 2025; CRFB and media note that part of the increase may come from Section 232 measures and other policy changes, but they also warn legal challenges and refunds could reduce or reverse some collections [2]. The Penn Wharton and Bipartisan Policy Center trackers emphasize methodological choices (daily/ monthly Treasury data vs. netting refunds) matter for totals; they also note behavioral effects — tariffs change import volumes, which feeds back into revenue — so short‑run receipts can overstate sustainable long‑run revenue [3] [8].
6. Competing estimates and the range to expect
In the provided reporting, you see a cluster of estimates: FY2024 ~ $77 billion (CRS/USAFacts) and FY2025 between roughly $151 billion (second‑half reporting) and $195 billion (final FY figure cited by CRFB), which implies a roughly 100%–150% increase year‑over‑year depending on which FY2024 baseline and FY2025 aggregation you use [1] [2]. Some commentators and modelers present far larger “what‑if” gross scenarios (hundreds of billions) but those are hypothetical or include broader tax‑offset assumptions and therefore are not direct measures of what was actually collected [6] [5].
7. Bottom line and what to watch next
The best-supported, directly cited comparison in the available sources is FY2024 customs duties ≈ $77 billion versus FY2025 collections reported at roughly $195 billion in one prominent accounting — a ~150% increase — but precise comparison depends on the accounting series [1] [2]. To answer a strict 2023 vs. 2024 calendar‑year question or to reconcile gross vs. net figures, consult Treasury monthly statements or CBP annual reports for the exact series and period you want; available sources here do not present a single calendar‑year 2023 total for a direct 2023-to-2024 comparison [3] [4].