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Trump’s Tariffs Are Raking in Billions. Where Does It All Go? | WSJ

Posted

September 12, 2025

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President Trump repeatedly claims tariffs will reap “billions” of dollars for the U.S.—and so far, he’s right. According to the Penn Wharton Budget Model, the U.S. has collected more than $158 billion as of early September 2025. So where does that money go and how does Congress appropriate that money?

WSJ examines how much money the U.S. has made from tariffs, how the money from tariffs is collected and where it ultimately goes.

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President TrumpPenn Wharton Budget ModelChapters TariffNews Explainers SomeTrump Tariffs WSJ

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