President Donald Trump on Thursday celebrated his administration's tariffs on Chinese goods, claiming that they're bringing in "billions of dollars" for the U.S. However, according to Treasury Department data, the tariff revenue is just a drop in the fiscal bucket.
Trump tweeted: "Billions of Dollars are pouring into the coffers of the U.S.A. because of the Tariffs being charged to China, and there is a long way to go."
Yet tariffs collected in the latest fiscal year ended Sept. 30 rose by less than $7 billion from fiscal 2017, according to the Treasury. That amounts to less than 0.2 percent of the $3.3 trillion the Treasury took in during the latest fiscal year.