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Charlie Bilello: U.S. customs duties reach $327 billion in 12 months

Charlie Bilello: U.S. customs duties reach $327 billion in 12 months
U.S. customs duties hit record level

Charlie Bilello, chief market strategist at Creative Planning, reports that the U.S. collected a record $327 billion in customs duties over the last 12 months, more than triple the $94 billion collected in the previous comparable period.

Bilello explains that the majority of this additional tax burden is absorbed by U.S. consumers through higher prices.

Bilello has recently reported on other major shifts in key markets. He noted that U.S. gas prices surged 53% in 10 weeks, reaching $4.56 per gallon, the highest since July 2022. In an earlier update, he observed that South Korean stocks tripled in 16 months, outpacing all other global markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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