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US tariff revenues to grow by just 5% from 36 out 57 countries affected by duties — UNCTAD

According to the report, Washington will receive less than 1% of the volume of current US revenues from import duties from each of its 36 partners

GENEVA, April 14. /TASS/. Thirty-six out of fifty-seven countries covered by US individual tariffs will bring to the US just 5% of the amount collected by Washington as customs duties in 2024, the United Nations Conference on Trade and Development (UNCTAD) said in its report.

According to its estimates, Washington will receive less than 1% of the volume of current US revenues from import duties from each of its 36 partners. Based on this figure totaling about $83 bln in 2024, UNCTAD experts forecast that the US would not be able to raise more than $4 bln of extra money from new duties, that is, just 5% of the amount received by the US from customs duties last year. Tariffs will have minimal significance for the country, UNCTAD believes in this regard.