U.S. Tariff Surge: $50 Billion Monthly Revenue Anticipated

U.S. Commerce Secretary Howard Lutnick predicts the nation's tariff revenue could hit $50 billion monthly. With increasing levies on imports from multiple countries, additional income from sectors like semiconductors and pharmaceuticals is expected. The ongoing tariff negotiations with China may extend the August 12 deadline by 90 days.

U.S. Commerce Secretary Howard Lutnick predicted a substantial tariffs revenue increase to $50 billion per month, citing new import levies across various countries.

He indicated that higher tariffs on goods such as semiconductors and pharmaceuticals could further boost income, promising a significant economic impact.

Lutnick noted the possibility of extending an August 12 deadline for a tariff agreement with China, hinting at a potential 90-day extension as negotiations progress.

(With inputs from agencies.)