The United States collected more than $29 billion in tariff revenues in July, setting a new monthly record and pushing the total for the year to over $152 billion, according to the latest data from the Treasury Department. The significant surge reflects the rapid escalation of import duties as part of a broad restructuring of global trade policy.

July’s figure marks a sharp rise from previous months tariff revenues were $17.4 billion in April, $23.9 billion in May, and $28 billion in June. The latest increase comes just ahead of a major shift in global tariff rates, set to take effect on August 7, following a brief delay to allow U.S. Customs and Border Protection officials time to prepare for implementation.

The new tariff strategy includes recent trade agreements with several key partners. In the weeks leading up to the policy shift, the U.S. finalized broad trade deals with 11 of its top 15 trading nations, including Japan, South Korea, and the European Union. These deals are designed to rebalance trade relationships and encourage foreign investment while boosting domestic industries.

President Donald Trump, who has spearheaded the aggressive tariff policy, has claimed that tariffs will serve as both a negotiating tool and a significant source of federal revenue. Administration officials estimate that the tariffs could generate over $300 billion in revenue over time.