Tariff Revenue Hits Record High of $31.4 Billion in October

A U.S. flag flies in front of cranes at the Conley Container Terminal in Boston, Mass., on Nov. 4, 2025. Brian Snyder/ReutersTariff revenues surged to $31.4 billion in October, setting a new monthly record as the Trump administration’s trade policies continue to remake U.S. trade flows and reshape the federal government’s balance sheet, according to newly released Treasury Department data.The Monthly Treasury Statement for October, published on Nov. 25, shows net customs duties totaling $31.4 billion, surpassing all prior monthly readings and marking the strongest single-month tariff haul since the modern reporting era began. Treasury records show gross customs receipts of roughly $33.1 billion, offset by about $1.7 billion in refunds, resulting in the $31.4 billion net figure.