President Donald Trump’s 2025 tariffs have already raised $88 billion in revenue year-to-date through August, with August alone pulling in about $23 billion, according to data from Yale University’s Budget Lab. But one of the biggest concerns with tariffs has been whether the costs would be passed on to consumers. So far, the answer appears to be yes. Core goods prices were 1.9% above pre-2025 trend as of June.
