The tariff revenues are about $190B as of end of FY 2025.
There were many projections of more, and of course there was talk of 3 or 4 trillion dollars (which generally stopped right there in the claims, neglecting to say that would be over 10+ years.
The deficit was $1.77T last FY. Which, of course, adds to the debt. If the USSC shoots down tariffs, the deficit for FY2026 (now) will have the $190B tacked on, refunding that money to companies or countries. The checks that get written to India and China and other BRICs will be interesting.
I got no problem with the President’s management style. There is always short term gushing optimism and then behind the scenes evaluation and rephrasing. Other countries have nodded at this. They now have him calibrated. Good things can come of this.
But make no mistake here, magnets loom. Imagine the Walmart whose food freezers broke and can’t repair them. Don’t know what the schedule for maintenance is on them. I would think we’ll see only hints of the issue by election day, but thereafter, we’ll be begging the Chinese for magnets.
Owen how much do your CCP handlers pay you.