Washington [US], August 1: US import tax revenue in the first half of 2025 is more than in all of 2024, and President Donald Trump claims America is rich again.
" Tariffs are making America great and rich again. A year ago, America was a dead country, but now it is the hottest country in the world," US President Donald Trump wrote on the social network Truth Social on July 31.
AFP compiled data from the US Treasury Department saying the country collected more than $87 billion in tariffs in the first half of 2025, more than the $79 billion for all of 2024.
The statement was published in the context of countries racing against time to reach a trade agreement with the US to avoid high tariffs from August 1.
On July 31, the US announced that it had reached trade agreements with South Korea, Cambodia, Thailand and most recently Pakistan.
Pakistan's finance ministry said the trade deal would reduce tariffs and increase investment, but the parties did not specify how much the US would impose on Pakistani exports compared to the previously announced 29 percent tariff.
"This agreement marks the beginning of a new era of economic cooperation, especially in the fields of energy, mining, IT (information technology), digital currency and others," Pakistan's Finance Ministry announced.
President Trump said he has reached an agreement to build an oil reserve for Pakistan and is selecting a company to lead the joint project.
Also on July 31, the US Treasury Secretary said he was confident that a trade deal with China was possible, although it was not yet 100% complete, according to CNBC. Unlike most countries, China faces a deadline for tariffs on August 12.
Mr. Bessent said that he and US Trade Representative Jamieson Greer will discuss the August 12 deadline with President Trump on July 31.
As for India, Mr. Bessent said he did not know what would happen, citing the country's trade with Russia. Asked if progress would be made before August 1, Mr. Bessent replied: "I don't know what will happen. It depends on India. India started the negotiations early. But they took things slow. So I think the president, the whole trade team, are angry with them."
Earlier, the US announced that it would impose a 25% tax on New Delhi goods, after Mr. Trump said that tariffs in India were too high and there were strict trade barriers.
On the evening of July 31, President Trump announced on social media that he had spoken by phone with Mexican President Claudia Sheinbaum and agreed to extend the negotiation period by 90 days. During that time, Mexico will still be subject to a 25% tariff related to the opioid fentanyl, a 25% auto tariff, and a 50% tariff on aluminum, steel, and copper. In addition, Mexico agreed to immediately end non-tariff trade barriers, Mr. Trump added.
Source: Thanh Nien Newspaper
