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Trump's China, Metals Tariffs Reach $4 Billion in New Revenue

Mark Niquette
Trump's China, Metals Tariffs Reach $4 Billion in New Revenue

The U.S. calculates that new tariffs on imports of Chinese products, steel and aluminum could generate an additional $4 billion in revenue so far, as President Donald Trump makes the case that the duties put the U.S. in a strong bargaining position. The amount represents additional federal income from levies imposed on foreign imports of the metals and Chinese products this year. Actual collections and deposits into the U.S. Treasury may be lower because importers and companies can file for refunds, returns and drawbacks, a process that can take as long as six months, the agency said.