Customs duties collected by the US rose to $8bn in March, up one-third on the same month last year, as the first round of Donald Trump’s tariffs started to take effect, according to new official data.
The Treasury’s monthly fiscal statement also revealed federal spending rose to $611bn in March, an 8 per cent increase on last year, as rising entitlements and debt service outstripped the White House’s efforts to cut spending.
The continued rise in spending highlights the difficulty facing the strategy being spearheaded by Elon Musk’s so-called Department of Government Efficiency, which has noisily sought to save money on administration, public staffing, real estate and contracts.
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