---
title: "Tariff Revenue Statistics 2026: Customs Duties and IEEPA Refunds"
date: 2026-07-16
author: "Steven Burnett"
featured_image: "https://coinlaw.io/wp-content/uploads/2026/06/tariff-revenue-statistics.jpg"
categories:
  - name: "Finance"
    url: "/finance.md"
tags:
  - name: "Statistics"
    url: "/tag/statistics.md"
---

# Tariff Revenue Statistics 2026: Customs Duties and IEEPA Refunds

The federal government raised roughly **$195 billion** in customs duties in Fiscal Year 2025, a **$118 billion** or **150%** increase over duties collected in 2024, per the final Monthly Treasury Statement of FY 2025. Monthly customs duties rose from **$7 billion** in January to **$30 billion** by September of FY2025. The figures below trace customs duties by fiscal year, by month, as a share of federal revenue, and against the refund exposure opened up by the Supreme Court ruling against IEEPA tariff authority.

## Key Takeaways

- US customs duties totaled roughly **$195 billion** in FY2025, a **$118 billion** or **150%** increase over duties collected in 2024 per the final Monthly Treasury Statement.
- Through May 2026, FY2026 customs duties FYTD reached **188,575** ($ millions), up **132%** from the prior FYTD figure of **81,386** ($ millions).
- Monthly customs duties rose from **$7 billion** in January to **$30 billion** by September of FY2025, per CRFB’s reading of Treasury data.
- Cumulative FY2025 federal receipts totaled **$5,235 Billion**, with Customs Duties of **$195 Billion**.
- As of **February 20, 2026**, the Supreme Court struck down the use of IEEPA in a **6-3** decision.
- The second half of FY2025 alone delivered **$151 billion** in customs duties, a nearly **300%** increase over the same period in FY2024.
- CBO’s Monthly Budget Review reported that collections of customs duties in **March 2026** increased by **$14 billion** year over year, nearly tripling the same-month prior-year level.

## Editor’s Choice

- FY2025 customs duties: **$195 Billion**, per the cumulative receipts figure through Fiscal Year 2025 in the Treasury statement.The
- FY2024 customs duties baseline derived from the **$118 billion** absolute increase against the roughly **$195 billion** FY2025 figure implies a FY2024 customs total in the high seventy-billion-dollar range.
- FY2026 customs duties FYTD through May 2026: **188,575** ($ millions), up **+132%** versus the prior FYTD.
- FY2025 total federal receipts: **$5,235 Billion**, against Total Outlays of **$7,010 Billion**.
- FY2025 federal deficit: **$1.8 trillion**, roughly **6%** of GDP per CRFB.
- September 2025 monthly Customs Duties stood at **$30 Billion**.
- IEEPA refund exposure: roughly **$90 billion** of the **$195 billion** in tariffs collected might need to be refunded, according to CBP data cited by CRFB.

## US Customs Duties by Fiscal Year

- The federal government raised roughly **$195 billion** in customs duties in Fiscal Year 2025, more than **250%** of what it collected in FY 2024 per the final Monthly Treasury Statement of FY 2025.
- Total tariff collection was roughly **$195 billion** for FY 2025, a **$118 billion** or **150%** increase over duties collected in 2024.
- The federal government collected **$151 billion** from customs duties in the second half of FY 2025, a nearly **300%** increase over the same period in FY 2024.
- Customs Duties through May 2026 reached **188,575** ($ millions) on the Monthly Treasury Statement basis, up **+132%** from the prior FYTD figure of **81,386** ($ millions).
- FY2025 cumulative receipts came in at **$5,235 Billion**, against Total Outlays of **$7,010 Billion** and a Deficit of **$1,775 Billion**.
- FY2026 Total Receipts FYTD through May 2026 stood at **3,655,648** ($ millions), up **+5%** from the prior FYTD level of **3,481,701** ($ millions).
- The **$118 billion** absolute increase between FY2024 and FY2025 customs duties is identified by CRFB.

Fiscal YearCustoms Duties ($ billions)Notable Policy ContextFY202299.9Pre-existing Section 301 / Section 232 tariffs in forceFY202380.0Section 301 China tariffs continuingFY202477.0Final pre-IEEPA tariff baselineFY2025195.0IEEPA tariffs phased in across calendar 2025FY2026 (FYTD May)188.575FYTD figure; pre-refund processingSource: US Treasury Final Monthly Treasury Statement September 2025; US Treasury Monthly Treasury Statement May 2026; Committee for a Responsible Federal Budget, 2025

## Methodology

Figures use Treasury MTS Table 4 and the Cumulative Receipts line in the Final FY2025 MTS. Federal fiscal years run from October 1 through September 30. Extraction date 2026-06-24; refresh cadence monthly.

## Customs Duties Share of US Federal Receipts

- Customs Duties of **$195 Billion** sat against Total Receipts of **$5,235 Billion** in FY2025.
- FY2024 Year-to-Date federal receipts totaled **4,918,106** ($ millions) per Table 1 of the FY2025 MTS.
- Customs Duties of **$195 Billion** divided by Total Receipts of **$5,235 Billion** in FY2025 reveals the customs share of federal receipts.
- Individual Income Taxes remained the dominant receipt line in FY2025 at **$2,656 Billion**, the largest single source of federal revenue.
- [Social Insurance](https://coinlaw.io/social-insurance-statistics/) & Retirement contributed **$1,748 Billion** in FY2025, the second-largest receipt line.
- Corporation Income Taxes delivered **$452 Billion** in FY2025 per the cumulative receipts figure.
- Excise Taxes contributed **$106 Billion** in FY2025, per the same cumulative figure.
- Corporation Income Taxes through May 2026 fell **-30%** year over year to **209,804** ($ millions), down from the prior FYTD figure of **298,187** ($ millions).
- The mix shift is the first material change to the composition of US federal receipts since the post-2017 tax law settled, with customs supplying revenue that the corporate-tax line used to provide.

Receipt SourceFY2025 ($ billions)Share of FY2025 ReceiptsIndividual Income Taxes2,65650.7%Social Insurance & Retirement1,74833.4%Corporation Income Taxes4528.6%Customs Duties1953.7%Excise Taxes1062.0%Estate and Gift Taxes290.6%Miscellaneous480.9%Total Receipts**5,235****100%**Source: US Treasury Final Monthly Treasury Statement September 2025; US Treasury Combined Statement of Receipts FY2025

> **By the numbers:** US Treasury data show Cumulative Receipts through Fiscal Year 2025 of **$5,235 Billion**, with Customs Duties at **$195 Billion** the fourth-largest receipt line behind Individual Income Taxes, Social Insurance & Retirement, and Corporation Income Taxes. Per the Final FY2025 Monthly Treasury Statement, this is the first time in roughly 80 years that customs duties have crossed the 3% threshold on the federal-receipts mix.

## Recent Developments

- Treasury released the May 2026 Monthly Treasury Statement, showing FY2026 Customs Duties FYTD of **188,575** ($ millions), up **+132%** from the prior FYTD figure of **81,386** ($ millions).
- Early May 2026. The first IEEPA refund payments began processing per the CBP IEEPA Duty Refunds program following the **February 20, 2026**, Supreme Court decision.
- **April 2026**. CBO’s Monthly Budget Review noted that collections of customs duties in **March 2026** increased by **$14 billion**, to nearly three times the amount from the same month the prior year.
- Section 122 of the 1974 Trade Act was used to temporarily reinstate roughly equivalent tariffs following the IEEPA invalidation.
- **February 20, 2026**: As of this date, the Supreme Court struck down the use of IEEPA in a **6-3** decision.

## Monthly Customs Duties Trajectory

- Monthly customs duties stood at **$7 billion** in January at the start of the new tariff regime’s phase-in window, per CRFB.
- By September, monthly customs duties had risen to **$30 billion**, roughly quadrupling over the January baseline per CRFB.
- The federal government collected **$151 billion** from customs duties in the second half of FY 2025, a nearly **300%** increase over the same period in FY 2024.
- September 2025 brought Total Receipts of **$544 Billion** across all sources, with Customs Duties of **$30 Billion** the fourth-largest line that month.
- Monthly customs duties have risen sharply since President Trump’s tariffs began taking effect, per CRFB.
- The trajectory implies a roughly **4.3x** multiplier from the **$7 billion** January starting point to the **$30 billion** September peak, compressed into a single fiscal year.

Month (FY2025)Customs Duties ($ billions)January7September30Source: Committee for a Responsible Federal Budget; US Treasury Monthly Treasury Statement

## FY2026 Customs Duties Year-to-Date Through May

- FY2026 Customs Duties through May 2026 reached **188,575** ($ millions) on the Monthly Treasury Statement basis.
- The prior FYTD figure for Customs Duties was **81,386** ($ millions), putting the year-over-year FYTD increase at **+132%**.
- Total Receipts FYTD through May 2026 came in at **3,655,648** ($ millions), up **+5%** from the prior FYTD figure of **3,481,701** ($ millions).
- The FYTD Surplus/Deficit improved to -1,246,203 ($ millions) through May 2026 from a prior FYTD deficit of -1,364,382 ($ millions), an improvement of **+9%**.
- Estate and Gift Taxes also rose sharply FYTD, climbing **+41%** to **27,951** ($ millions) from **19,855** ($ millions) the prior FYTD.
- Treasury’s Monthly Treasury Statement dataset spans 10/31/1980 through 05/31/2026 with a monthly release cadence and a next-release date of 07/13/2026, providing machine-readable CSV, JSON, and XML access to the receipts series.

 Metric by FYTD May 2026 ($ millions) FYTD MAY 2026 ($ MILLIONS) · FYTD May 2026 ($ millions) vs Prior FYTD ($ millions) · Source: US Treasury Monthly Treasury Statement May 2026    FYTD MAY 2026 ($ MILLIONS) · COINLAW ANALYSIS Metric by FYTD May 2026 ($ millions) FYTD May 2026 ($ millions) vs Prior FYTD ($ millions)   US Treasury · 2026    FYTD May 2026 ($ millions)  Prior FYTD ($ millions)          4000000 3200000 2400000 1600000 800000 0                Customs Duties Individual Income Taxes Social Insurance & Retirement Corporation Income Taxes Total Receipts Surplus/Deficit    SOURCE US Treasury Monthly Treasury Statement May 2026      

## Net vs Gross Tariff Revenue

- Net tariff revenue in recent years has been **80% to 85%** of gross tariff and certain other excise tax revenue.
- The Joint Committee on Taxation (JCT) typically accounts for an income and payroll tax offset to excise taxes of around **25%**, meaning **$1** of excise tax revenue will lead to a **$0.25** decline in income and payroll tax revenue per BPC.
- BPC’s data series tracks gross tariff and certain other excise tax revenue, with net tariff revenue available only on Monthly Treasury Statements after accounting for refunds.
- CRFB estimates the existing new tariffs enacted under the Trump Administration will raise about **$3 trillion** through FY 2035, net of offsetting effects on income and payroll taxes.
- Chaining the BPC net band midpoint and the ~25% offset onto the $195 billion gross figure, our estimate of effective new revenue lands near $121 billion, an analytical approximation rather than a Treasury-reported number.

 Methodology Adjustment by Multiplier MULTIPLIER · Multiplier vs Running Total ($ billions) · Source: Bipartisan Policy Center US Tariff Tracker; Committee for a Responsible Federal Budget    MULTIPLIER · COINLAW ANALYSIS Methodology Adjustment by Multiplier Multiplier vs Running Total ($ billions)   Bipartisan Policy    Multiplier  Running Total ($ billions)          200 160 120 80 40 0          Gross customs duties (FY2025 Final MTS) Net tariff revenue (BPC midpoint, 83% of gross) After JCT 25% income/payroll offset    SOURCE Bipartisan Policy Center US Tariff Tracker; Committee for a Responsible Federal Budget      

> **The context:** Net tariff revenue in recent years has been **80% to 85%** of gross tariff and certain other excise tax revenue, with the Joint Committee on Taxation applying a roughly **25%** income and payroll tax offset to excise revenue. The derived effective new revenue from FY2025 customs duties, gross times the midpoint times one minus the offset, lands close to **$121 billion**, materially below the **$195 billion** headline number.

## IEEPA Tariffs and the Supreme Court Decision

- The exceptional tariff revenues collected in 2025 and early 2026 were largely authorized through the Internal Emergency Economic Powers Act (IEEPA).
- As of **February 20, 2026**, the Supreme Court struck down the use of IEEPA in a **6-3** decision per BPC.
- Roughly equivalent tariffs have been temporarily reinstated through Section 122 of the 1974 Trade Act following the Supreme Court ruling.
- CBP processes imported goods at **328** ports of entry and administers tariff programs authorized under Section 301 (Tariff Act of 1974), Section 232 (Trade Expansion Act of 1962), Section 122 (Trade Act of 1974), the International Emergency Economic Powers Act (IEEPA), and antidumping/countervailing duty orders.
- CBP processes drawback and refund claims for IEEPA tariffs invalidated by the **February 20, 2026**, Supreme Court decision via its IEEPA Duty Refunds program.
- The U.S. Trade Court ruled the majority of the new tariffs, those enacted under IEEPA, illegal per CRFB.

DateEventEarly 2025IEEPA invoked as legal basis for new tariff schedulesMid-2025US Trade Court rules majority of IEEPA tariffs illegalFebruary 20, 2026Supreme Court strikes down IEEPA in a 6-3 decisionFebruary 21, 2026Section 122 of the 1974 Trade Act invoked as temporary replacementEarly May 2026CBP begins processing first IEEPA refund paymentsSource: Bipartisan Policy Center US Tariff Tracker; Committee for a Responsible Federal Budget; US Customs and Border Protection

## IEEPA Refund Exposure and FY2026 Outlook

- If upheld, roughly **$90 billion** of the **$195 billion** in tariffs collected might need to be refunded, according to data from U.S. Customs and Border Protection cited by CRFB.
- The first IEEPA refund payments began processing in early **May 2026** under the CBP IEEPA Duty Refunds program.
- CRFB estimates the existing new tariffs enacted under the Trump Administration will raise about **$3 trillion** through FY 2035, net of offsetting effects on income and payroll taxes.
- CRFB estimates the existing new tariffs enacted under the Trump Administration will raise about **$3 trillion** through FY 2035, net of offsetting effects on income and payroll taxes.
- Even with refund processing underway, FY2026 Customs Duties FYTD through May 2026 remained at **188,575** ($ millions), up **+132%** from the prior FYTD figure of **81,386** ($ millions).
- The refund exposure of **$90 billion** divided by the **$195 billion** FY2025 customs duties total yields roughly **0.46**, the upper bound on the share of FY2025 revenue at legal risk from the ruling against the IEEPA authority.

 Scenario by FY2025 Customs Duties Retained ($ billions) FY2025 CUSTOMS DUTIES RETAINED ($ BILLIO · FY2025 Customs Duties Retained ($ billions) vs FY2025 Customs Duties Refunded ($ billions) · Source: Committee for a Responsible Federal Budget; US Customs and Border Protection    FY2025 CUSTOMS DUTIES RETAINED ($ BILLIO · COINLAW ANALYSIS Scenario by FY2025 Customs Duties Retained ($ billions) FY2025 Customs Duties Retained ($ billions) vs FY2025 Customs Duties Refunded ($ billions)   Committee    FY2025 Customs Duties Retained ($ billions)  FY2025 Customs Duties Refunded ($ billions)          200 160 120 80 40 0          Full IEEPA refund processed Partial refund (50% of exposed amount) Section 122 backstop replaces full IEEPA scope    SOURCE Committee for a Responsible Federal Budget; US Customs and Border Protection      

> **The takeaway:** If upheld, roughly **$90 billion** of the **$195 billion** in tariffs collected might need to be refunded according to U.S. Customs and Border Protection data cited by CRFB. The refund exposure equals roughly half of the FY2025 customs collection and is the single largest variable on the FY2026 federal-receipts outlook.

## Tariffs as a Share of Federal Revenue Historically

- Customs Duties came in at **$195 Billion** against Total Receipts of **$5,235 Billion** in FY2025.
- Tariffs’ share of total federal revenues increased sharply in early FY2026 compared to previous years.
- BPC notes that tariff revenue data comes from the U.S. Treasury Department’s Daily Treasury Statement under the Deposits category “DHS. Customs and Certain Excise Taxes”.
- FY2024 Year-to-Date federal receipts of **4,918,106** ($ millions) and outlays of **6,734,896** ($ millions) produced a FY2024 deficit of **1,816,790** ($ millions) per Table 1 of the FY2025 MTS.
- BPC’s data series uses Daily Treasury Statement deposits for tracking purposes, with net figures available after refunds.

Fiscal Year WindowCustoms Share of Federal ReceiptsPost-1950 baselineRoughly 1% to 2%FY2024 (pre-IEEPA)Low single digitsFY2025 (IEEPA in force)3.7%Early FY2026 (post-SCOTUS)Climbing sharply per BPCSource: US Treasury Combined Statement of Receipts; Bipartisan Policy Center US Tariff Tracker

## What is the largest source of US tariff revenue?

- CBP collects all duties at the agency’s **328** ports of entry across the Section 301, Section 232, Section 122, IEEPA, and antidumping/countervailing duty orders.
- Imports from China have historically contributed the largest single-country share of US tariff revenue under the Section 301 schedules, with the IEEPA-era schedules layering additional cross-country rate increases on top.

## How does fiscal-year tariff revenue differ from calendar-year figures

- The Monthly Treasury Statement covers the period 10/31/1980 through 05/31/2026 with a monthly release cadence and a next-update date of 07/13/2026.
- US Treasury figures use the federal fiscal year, October 1 through September 30. CBP-derived trackers and some Daily Treasury Statement aggregations use a calendar-year basis, so a calendar-year customs total differs from the Treasury fiscal-year total by roughly a quarter of revenue, depending on policy timing.

## What happens to tariff revenue if the IEEPA refunds are processed in full

- If upheld, roughly **$90 billion** of the **$195 billion** in tariffs collected might need to be refunded, according to data from U.S. Customs and Border Protection cited by CRFB.
- The first IEEPA refund payments began processing in early **May 2026** under the CBP IEEPA Duty Refunds program.
- Roughly equivalent tariffs have been temporarily reinstated through Section 122 of the 1974 Trade Act.

## Conclusion

US customs duties hit roughly **$195 billion** in FY2025, a **$118 billion** or **150%** increase over duties collected in 2024, per the final Monthly Treasury Statement. Through May 2026, FY2026 Customs Duties FYTD reached **188,575** ($ millions), up **+132%** from the prior FYTD figure of **81,386** ($ millions). CBP began processing the first IEEPA refund payments in early **May 2026**, following the **February 20, 2026**, Supreme Court decision.

The next Monthly Treasury Statement release on 07/13/2026 will show how the June 2026 reporting period closed. Researchers, fiscal-policy analysts, importers, and business journalists will find the share-of-receipts pivot, the monthly trajectory, and the refund-exposure framing the most decision-relevant cuts.