The US expects revenues of $50 billion a month from tariffs.

U.S. Commerce Secretary Howard Lutnick said he expects the country to be on track to generate $50 billion a month in tariff revenue after reciprocal tariffs on imports from dozens of countries went into effect Thursday.

"Last month, the average was just over $30 billion. And (this Thursday), tariffs went up. I think we'll be approaching $50 billion a month in tariff revenue," he said.

"And then there will be semiconductors, pharmaceuticals, and all sorts of additional tariffs," Lutnick said.

Asked whether the August 12 deadline for reaching a tariff agreement with China could be extended again, Lutnick indicated that it is possible.

"I think we'll let the trade team and the president make those decisions, but it seems likely they'll reach an agreement and extend it for another 90 days, but I'll leave that to that team," he said.

The reciprocal tariffs imposed by US President Donald Trump went into effect this Thursday, after four delays in four months.

In the latest tight deadline, Trump signed an executive order last week to establish reciprocal tariffs of between 10 and 41 percent on goods imported into the United States from 69 countries or jurisdictions beginning August 7, 2025.

With this, it raised the minimum tariff from 10% to 15%, in addition to establishing a 35% tariff for Canada, which went into effect last Friday for all Canadian products that do not comply with the United States-Mexico-Canada Agreement (USMCA).

Additionally, Trump imposed a 50% tariff on imported products from Brazil, bilaterally, due to his treatment of former President Jair Bolsonaro, among other reasons, and a 50% tariff on India for the purchase of Russian oil.

Regarding Mexico, Trump announced a 90-day extension during which the current tariffs will remain in place, postponing the 30% increase originally scheduled to take effect on August 1.

Background on these protectionist measures: In Executive Order 14257 of April 2, 2025, Trump argued that the conditions reflected in the United States' “large and persistent annual deficits” in trade in goods constitute “an unusual and extraordinary threat to the national security and economy of the United States.”

Trump argued that the source of this threat, in whole or in part, lies outside the United States. He therefore declared a national emergency regarding this threat and, to address it, imposed additional ad valorem tariffs.

The list includes tariffs of 20% for Taiwan and 39% for Switzerland, as well as rates of up to 41% for Syria, 40% for Laos and Myanmar, and 35% for Iraq.

Outside the list, Trump maintained a base tariff of 10% on countries with which the United States has a surplus in its trade in goods.

The United States, in turn, imposed an additional 125% tariff on imports from China, but suspended it for 90 days.