Trump’s Tariffs Are Raking in Billions. Where Does It All Go? | WSJ

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President Trump repeatedly claims tariffs will reap “billions” of dollars for the U.S.—and so far, he’s right. According to the Penn Wharton Budget Model, the U.S. has collected more than $158 billion as of early September 2025. So where does that money go and how does Congress appropriate that money? WSJ examines how much money the U.S. has made from tariffs, how the money from tariffs is collected and where it ultimately goes. Chapters: 0:00 Tariff revenue 0:36 How much the U.S. has made 2:16 How tariffs are collected 3:18 Where the money goes 4:38 Tariff legal challenges News Explainers Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news. #Trump #Tariffs #WSJ