Overview
- President Trump said on Truth Social that the U.S. has taken in or will soon receive more than $600 billion from tariffs and accused the media of ignoring the claim.
- Treasury figures show $195 billion in tariff revenue for fiscal 2025, with Customs and Border Protection data and independent estimates placing totals well above $200 billion but far short of $600 billion.
- The Supreme Court heard arguments in November on whether the International Emergency Economic Powers Act permits the sweeping tariffs, with a decision expected in 2026.
- Lower courts ruled that the president lacked authority to impose the global tariffs without Congress, and several justices signaled skepticism during high court arguments.
- Importers, including Costco, have sued to recoup payments and halt ongoing collections, while countries such as India face steep U.S. duties of up to 50 percent, including a 25 percent component tied to Russian oil purchases.