Trade Policy

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Stacks of shipping containers from several lines at a container terminal in the Port of Los Angeles, with blue ship-to-shore cranes against a pink and blue evening sky.
The Numbers

Customs Took In $333 Billion in Fiscal 2026. Refunds Sent About $147 Billion Back Out.

The fiscal year closed on Wednesday with a record $332.6 billion of customs deposits, according to the Treasury's daily cash statement. It also closed with $157.8 billion paid out through Customs and Border Protection, against about $10.5 billion in each of the two previous years. Net of those payments, the border raised less than it did in fiscal 2025. Since May, it has paid out $17.5 billion more than it took in.

A computer processor held upright by black tweezers, its gold contact pads facing the camera, against a plain grey background.
AI

Five Tech Groups Asked Trump to Spare Data Centers From Chip Tariffs. For Now, They Are Exempt.

The Computer & Communications Industry Association and four other technology trade groups wrote to President Trump on Friday warning that broad Section 232 tariffs on semiconductors, robots and industrial machinery would raise the cost of building AI data centers and factories. Advanced chips bound for American data centers are exempt from the 25 per cent tariff imposed in January. A second phase under discussion may end that.