President Donald Trump’s tariffs “are likely to generate significant revenue” for the U.S., according to a nonpartisan organization committed to educating people on fiscal issues.

The Committee for a Responsible Budget (CRB) on Monday said the monthly tariff revenue in July jumped to $25 billion, up from $7 billion late last year.

The CRB also said Trump’s tariffs will generate an estimated $1.3 trillion of net new revenue through the end of his term and $2.8 trillion through 2034, before accounting for economic effects. That’s roughly $600 billion more than the tariffs in effect as of May.

Read more at Newsmax© 2025 Newsmax. All rights reserved.