In May, the U.S. collected a record $22.3 billion in tariff revenue, an increase from $16.5 billion in April.
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This breaking news indicates that the amount of money the US government has collected from tariffs has significantly increased in the last two months, reaching a record high in May.
The increase from April's $16.5 billion to May's $22.3 billion represents a substantial growth in revenue derived from these trade taxes. The data suggests that the year-to-date tariff revenue has now surpassed $67 billion, which is a substantial jump from the average of 2% of total federal revenue in recent years.
This rise in tariff revenue now accounts for approximately 4% of the total federal revenue, highlighting the substantial impact of the ongoing trade disputes and tariff policies on the US economy. The source of this information is not specified in the provided text, but it is likely from a financial or news outlet that tracks and reports on economic indicators and government revenues.