The Trump Administration says it can now assign a dollar value to the President’s tariff plan.
During President Trump’s cabinet meeting yesterday afternoon, Treasury Secretary Scott Bessent told the panel that the U.S. has pulled in $100 billion since the tariff rollout. By the end of the year, he estimates tariffs will net the U.S. $300 billion. He says that in ten years, the Congressional Budget Office shows $2.8 trillion collected as a result of the tariff plan.
Bessent told the Cabinet that he believes the 10-year payout will be much higher. This week, President Trump gave an August 1st deadline for blanket tariffs.
Related Stories
Strong Farm Credit finances help cushion producers, but prolonged low crop margins could strain renewals in 2026.
Canadian tariffs would raise costs for potash, ammonia, and UAN, increasing spring fertilizer risk.
Tariff relief and new trade agreements may temper food costs by reducing import costs.
$11 billion will go to row-crop farmers immediately, with $1 billion set aside for specialty crops.
American soybean and corn leaders, along with Canada’s AgriFood sector, testified before the U.S. Trade Representative’s Office in support of the trade pact between the U.S., Mexico, and Canada.
