The US government recorded a monthly record of $7.1 Billion in tariff import revenue during the month of September. This number marks a 9% increase from August and a 59% increase from September of 2018. The spike in tariff imports comes after the latest round of the Trump Administrations tariffs were aimed heavily at consumer goods.
The revenue provides financial stability to the US Treasury and forces foreign exporters to pay their share. However, the tariff hikes also pose a burden to American businesses, as well as consumers, who have to deal with higher costs getting their products shipped in from abroad.
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