The Trump administration’s tariff policy has resulted in substantial refunds and continued uncertainty about tariff revenue, Fortune reports. In May 2026, the Treasury refunded approximately $21.97 billion in tariffs while collecting about $21.93 billion. In June, refunds increased to $49.18 billion compared with $23.63 billion in new tariff collections, resulting in negative net customs revenue […]Read More
The tariff math turns negative as refunds outpace revenue
