Trump: "Treasury Has Taken In Many Billions Of Dollars From Tariffs"

With the fate of President Trump's USMCA trade deal still uncertain at the beginning of the 116th Congress, President Trump tweeted Thursday morning to remind Americans that his trade war with China and his other tariffs - measures that have horrified free-trade lawmakers and American business leaders - have actually netted billions of dollars in income for the US.

In other words: While it hasn't entirely compensated for the shortfall, Trump's tariffs have helped plug the hole in the budget deficit left by Trump's tax reform package.

"The United States Treasury has taken in MANY billions of dollars from the Tariffs we are charging China and other countries that have not treated us fairly. In the meantime we are doing well in various Trade Negotiations currently going on. At some point this had to be done!"

Indeed, according to Goldman Sachs research, tariff revenues have soared to nearly $5 billion a month since the first tariffs were imposed nearly one year ago.

Tariffs

In other words, if Congress were to simply monetize the tariff revenues, it would already have enough money to pay for Trump's wall.