U.S. businesses and consumers have paid $317 billion in extra tariffs on U.S. imports since March 2025, according to data released by We Pay the Tariffs. These are the costs from additional tariffs the administration has implemented through various authorities, including IEEPA, Section 122, Section 301, and the unprecedented use of Section 232 tariffs.
"The latest figures are a damning indictment of tariffs’ impact on the U.S. economy, with lots of pain but little gains for American workers, businesses, and families," says Dan Anthony, executive director of We Pay the Tariffs. "The trade deficit is up, goods exports and manufacturing jobs are down, and inflation is at its highest level in years. It’s disappointing that the Administration is barreling ahead with a flurry of new tariffs despite the results to date."
Key takeaways:
· In May alone, tariff collections reached $22 billion on $305 billion in imports, compared to just $7.1 billion in February 2025. Of the $22 billion collected, $19 billion (86%) resulted from presidential actions, including an estimated $9.2 billion from Section 122 tariffs, $7.4 billion from Section 232 tariffs, and $2.4 billion from Section 301 tariffs.
· The administration's temporary Section 122 tariffs, a 10% surcharge on imports from virtually every country, are set to expire on July 24. The administration has signaled it will replace with permanent Section 301 tariffs in late July, adding new costs on top of what businesses have already paid.
