Tariff revenue falls to negative $42 million in May, Jack Salmon notes

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Tariff revenue falls to negative $42 million in May, Jack Salmon notes — Tariff revenue falls to negative $42 million

Jack Salmon reports that U.S. tariff revenues turned negative in May as the Treasury issued more refunds to importers than it collected through customs duties.

According to Salmon, monthly tariff revenue for May dropped to negative $42 million, reflecting a rare instance where refunds outpaced income from tariffs.

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Salmon has previously highlighted economic drivers across U.S. markets. He reported that Elon Musk has created $2.5 trillion in shareholder wealth and more than 150,000 jobs. In another analysis, Salmon explained how GDP growth regressions on debt may miss the economic impact of offsetting effects from deficit spending.

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