Treasury Secretary Scott Bessent provided an update on the massive revenue the United States is bringing in as a result of President Trump’s tariffs during a cabinet meeting on Tuesday, revealing that the U.S. is already set to have at least $100 billion in tariff income by the end of 2025.
He further estimated that the actual amount could be more than three times the current number.
As The Gateway Pundit reported, President Trump is levying an additional 10% tariffs on “Any Country aligning themselves with the Anti-American policies of BRICS,” the rapidly expanding international globalist economic group, originally comprised of Brazil, Russia, India, China, and South Africa.
The President also sent letters to a series of countries, imposing additional tariffs that are set to be paid starting on August 1.
Bessent said that the “major tariffs,” which started in the second quarter of this year, as well as the BRICS tariffs and other tariffs, increase the expected number to “well over $300 billion by the end of the year.”
Even the far-left Congressional Budget Office (CBO) corroborates the numbers, estimating that “the changes in tariffs will reduce total federal deficits by $2.8 trillion” between 2025 and 2035 in their report on “Budgetary and Economic Effects of Increases in Tariffs Implemented Between January 6 and May 13, 2025.”
President Trump responded to these findings by excoriating the Democratic Party and touting his One Big Beautiful Bill, which will provide massive tax cuts for the working class and billions of dollars for border security and deportations.
In his scathing rebuke of the Democrats, he referenced all of the terrible lies they made up about the bill, including their narrative that people are going to die as a result of the cuts in the bill, and pointed out the hypocrisy.
“There’s nothing to do with death. In fact, we’re saving our country. Death is from allowing 25 million people into our country, of which three of four are stone cold, hard criminals, 11,888 are murderers, many of them committing more than one murder. That’s death, and the Democrats did that,” he said. “We have to get them out, and we have no choice. We have to get them out, and we are getting them out.”
However, later in the meeting, the President said that he’s open to not getting every one of the illegal aliens out. As The Gateway Pundit reported, President Trump, Agriculture Secretary Brooke Rollins, and Labor Secretary Lori Chavez-DeRemer said on Tuesday that the Trump Administration is working on “streamlining” legal status for illegal aliens on farms, while denying that they’re offering amnesty to illegals.
“There’s no amnesty,” Trump said. “What we’re doing is we’re getting rid of criminals, but we are doing a work program.”
(VIDEO) President Trump Says “No Amnesty” but “Work Program” for Illegal Aliens on Farms? – Labor Secretary Calls it a “Concierge Approach” for “Streamlining” Illegal Aliens Through Work Visa Programs
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Bessent: Sir, we will have taken in about $100 billion in tariff income thus far this year, and that’s with the tariffs, the major tariffs, not having started till the second quarter. So, we could expect that could be well over $300 billion by the end of the year. We don’t agree with CBO scoring, but for those who do, the CBO scored tariff income over the next 10 years at 2.8 trillion, which we think is probably low. And sir, under your leadership, we’re witnessing—
Trump: And they gave us no credit during this last little the great Big Beautiful Bill. I always use the word great. I add that to it because it really is— there’s never been anything like it, actually. And I want to thank all the Republicans that voted for it. And I want to, you know, scold the Democrats because they’re voting for tax cuts, they’re voting for no tax on tips, no tax on Social Security, no tax on overtime, and, you know, many, many other things, far more important than that, great health care. And frankly, they, every Democrat should lose their election because it was purely political. They were told not to vote for it. So, think of it. We got 218 to two. And then with the Senate, we had 50 to three. Democrats didn’t vote at all. Not one positive vote with all of the good things in there: Economic development money, tremendous border money. Now you’re loaded up on the border, and I don’t think we’re going to need so much of it because we had zero come in last month. So I’m not sure how much of it we want to spend. You may think about that. You may actually think about saving a lot of money because the wall has been largely built, and it obviously worked. But you may want to think about that.
But so I think it’s incredible when I watch the Democrats and they have standard lines, like they had Russia, Russia, Russia. They had the laptop from hell, all came from Russia. You know, they make things up, and they go with it, and they feed it to you people, in many cases, and they said, here’s the line. And I hear the new line is death. Oh, it’s death. Everyone’s going to die. There’s nothing to do with death. In fact, we’re saving our country. Death is from allowing 25 million people into our country, of which three of four are stone cold, hard criminals, 11,888 are murderers, many of them committing more than one murder. That’s death, and the Democrats did that. Joe Biden did that by allowing people to come in here, just totally unchecked, unvetted, open borders, open borders.
The whole world was dumped into our country, from prisons, from gangs, from mental institutions. We have many people walking the streets, walking in areas that we don’t know anything about, that came out of insane asylums. They released their insane asylum, the insane asylum population, into our country, and it’s amazing the job that you and Tom Homan are doing, by the way, on that. But we have to get them out, and we have no choice. We have to get them out, and we are getting them out.
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