President Donald Trump has long argued that tariffs would generate “billions” for the United States—and recent figures show he is correct. According to the Penn Wharton Budget Model, the U.S. has collected more than $158 billion in tariff revenue as of early September 2025.

The Wall Street Journal recently examined how these funds are gathered and where they ultimately go. Tariffs are collected by U.S. Customs and Border Protection at ports of entry when goods arrive from abroad. The money is then deposited into the U.S. Treasury, where it becomes part of federal revenue.

From there, Congress determines how the money is appropriated, often channeling it into general government spending, debt servicing, or programs impacted by trade disputes. In some cases, tariff revenue has been used to offset costs for American farmers and industries affected by retaliatory measures from other countries.

While critics argue tariffs raise consumer prices, supporters point to the billions flowing into government coffers as proof of their effectiveness. With more than $158 billion collected so far, Trump’s tariff strategy has become a central feature of U.S. trade and economic policy.