I thought the tariffs were a bad idea?
Inflation down, running surpluses.
Jesus who wouldn’t be happy with this result?
WASHINGTON (Reuters) -U.S. customs duty collections surged again in June as President Donald Trump’s tariffs gained steam, topping $100 billion for the first time during a fiscal year and helping to produce a surprise $27 billion budget surplus for the month, the Treasury Department reported on Friday.
When’s the last time we ran a surplus on the federal budget?
lol- so no comment on the surplus? Just a “hey some people think inflation might rise later” comment?
Weird but whatever.
Long term effect of the tariffs. Sure, a surplus in one area that is going to cause price increases in another. The other countries aren’t paying that bill for the tariffs, the importers are. The importers are going to pass that cost to the consumer. So go ahead and celebrate this surplus. It going to cost everyone that buys goods.
Everything is great.
Ahem…. You need to stop parroting what you hear.
Some costs are being eaten: First, foreign exporters are absorbing some of the added costs. A Goldman Sachs analysis puts that share at about 20%, meaning that the remaining 80% of higher costs from tariffs (which are added to the price of wholesale goods when they hit US soil) have been split between US businesses and US consumers. Goldman Sachs economists expect that eventually about 70% of the direct cost of tariffs will be passed onto consumers through higher prices. (However, that 70% could move higher, depending on how much domestic producers change their prices as well, according to the analysis).
YaY! The other exporter is paying 20 cents on the dollar. Let’s celebrate! 
Point still stands. Prices are going up!
They are.
Jan 2023 and without charging US businesses the tariffs
You’re literally disputing how trade works. It’s not esoteric knowledge. The importers of record pay the tariffs. It’s not a matter of dispute
Wait, I thought this was the joe biden economy. Once trumps policies kick in lets see how it works. Trickle down economics have yet to work. Right now the economy had loss in GDP for the first time in a long time. The economy has slowed.
You’re right- it doesn’t have any impact that 1/5 of the tariff is picked up by a foreign entity.
None of this matters because you’re hysterical over Trump lol.
Yea- to the tune if $27 billion in our pockets to spend or give back in tax breaks. Terrible.
Cite it.
Because GPT says you’re wrong.
They are taxes, themselves. $27 billion in tax increased on American businesses.
Really?
That might remind both of us that ChatGPT lies and can’t be relied upon.
It’s almost like AI is full of shit. But, budget surplus in June 2025 thanks to taxing American businesses on imports. So, what did it say when asked again??
So, 2022. They also didn’t add TRILLIONS to the deficit with their Big Beautiful Bill in 2022.
Have any other questions? I do, now that we’ve got extensive info showing AI will lie to you outright even on the most basic of questions…why are you okay with YOUR GOVT putting AI in charge of virtually everything and then putting into law that states can’t regulate it for 10 years?
Buddy you just posted a link that said he was 80% right.
Nah- I post a link, his link in fact, that showed he was 100% wrong.
Importers are not paying the full cost of the tariff. Full stop.
The other area he’s wrong is many people are now buying American and fully skipping the tariff.
The only mechanism for the seller to pay the duties, taxes and tariffs is if the Incoterms are DDP making the seller obligated to pay the duties and taxes. However, no country is paying shit. The repeated “we took in X amount from China” is a flat out lie told by Trump hundreds of times.
There exists no mechanism to track the number of DDP shipments being imported. Trade databases focus on the IOR not Incoterms. Also, you can’t split it. One login can’t pay the 20% and someone else log in and pay the 80%. It simply doesn’t exist that way. What they would be claiming is, of the countries who’ve had a tariff levied that differed from the previous year or quarter, how many of them have changed their previous Incoterms from DAP to DDP.
What the study REALLY SHOWED - Goldman Sachs economist Jan Hatzius estimate that tariff hikes have led to foreign exporters absorbing 20% of the additional cost, BY LOWERING THEIR EXPORT PRICES, while the remaining burden is shouldered by US firms and consumers.
since you like ChatGPT
So, once again - Unless Incoterms are DDP in which the seller is paying the full duties, taxes and tariff price, importers are paying the full cost of the tariff. The seller might lower their price to accommodate for some of that price increase, but the tariffs themselves are being paid by the importers of record. Lower the cost of the item imported and the tariff drops.
Again, I own an international logistics company. I do this for a living and have been since 2000.
What else GSC ignored about his own article
It also referenced this article
https://www.cnn.com/2025/05/15/economy/us-ppi-inflation-april?cid=external-feeds_iluminar_yahoo
What did it say?
The other area he’s wrong is many people are now buying American and fully skipping the tariff.
Yet another lie. You’re stating that I was wrong about this by having never commented on “buying American” in any way. I know, it’s pathological with you. You can’t help it. Virtues of any kind, like honesty, are toxic to you.
But, that’s coming from Kevin Hassett. Show me the #s. Hassett has a long history of spouting bullshit and called workers “human capital stock” and repeated lies about the TCJA.
Full stop.
He never claimed 100%. At least not the post you responded to.
Saying “importers are paying the tariffs” is not incorrect even if it isn’t 100%. And the gall to act all I-told-you-so when the rate importers are paying is 80% is laughable.
The fact is, Americans ARE paying the bulk of those tariffs. Period.
Now, sure, maybe the other countries impose retaliatory tariffs and then THEIR citizens mostly pay those. Maybe Americans effectively paying more in taxes is a good thing. I’ve been the first to say over and over that global trade is complicated and tariffs are not necessarily evil or bad.
Sure, which is great, but buying American means paying more money, which is a form of inflation. American avocados are more expensive than Mexican avocados.
This is what GSC initially asserted. And he’s correct. Exporters can lower prices a bit to help ease the burden. You might get lucky with a 5% discount on Chinese steel, but that tariff increase from 25% to 90% is a killer. And yes, American firms are still finding that to be an acceptable cost as evidenced by continued purchases, mostly out of necessity, but that importer’s paying through the nose for that metal, and American firms are picking up that tab… and there’s zero chance steel doesn’t end up more expensive for the average consumer, whether that’s a home depot customer or a car manufacturer.
My point entirely.
Food prices up….what a shock.
The level of arrogance in this double down is outstanding. True or False: Regardless of amount the importers are paying the tarriffs? Absorbing costs by lowering a price is not exactly paying anything is it?
