USA: Government collects almost $50 billion more through tariffs

US PresidentDonald Trump (79) announced high tariffs for many countries around the world at the beginning of April. Since then, negotiations with numerous governments and court cases in the US have been ongoing to determine whether the way the tariffs were imposed was even legal. However, at least some of the revenue from the tariffs has since flowed to the US.

According to the FT, there have been few countermeasures from other countries so far. Only China and Canada have responded with limited punitive tariffs. The EU Commission, however, has only threatened such measures so far and is relying on ongoing negotiations with the US government at least until the beginning of August. The mood had recently worsened because Trump announced 30 percent tariffs on all EU products . However, the negotiations are still ongoing.