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Express Tribune
3 days ago
- Business
- Express Tribune
US customs duties top $100b for first time
A woman who is seeking asylum has her fingerprints taken by a US Customs and Border patrol officer at a pedestrian port of entry from Mexico to the United States, in McAllen, Texas, US, May 10, 2017. PHOTO: REUTERS Listen to article US customs duty collections surged again in June as President Donald Trump's tariffs gained steam, topping $100 billion for the first time during a fiscal year and helping to produce a surprise $27 billion budget surplus for the month, the Treasury Department reported on Friday. The budget data showed that tariffs are starting to build into a significant revenue contributor for the federal government, with customs duties in June hitting new records, quadrupling to $27.2 billion on a gross basis and $26.6 billion on a net basis after refunds. The budget results are likely to reinforce Trump's view of tariffs as a lucrative revenue source and as a hammer to enforce non-trade foreign policy. He said on Tuesday that "the big money" would start to flow in after he imposes higher reciprocal tariffs on US trading partners on August 1. US Treasury Secretary Scott Bessent said on X that the results show the US is "reaping the rewards" from Trump's tariff agenda. "As President Trump works hard to take back our nation's economic sovereignty, today's (Friday's) Monthly Treasury Statement is demonstrating record customs duties – and with no inflation!" Bessent said. For the first nine months of fiscal year 2025, the customs' take reached records of $113.3 billion on a gross basis and $108 billion on a net basis, nearly double the prior year collections. The government's fiscal year ends on September 30. Based on those results, tariffs have now grown into the fourth-largest revenue source for the federal government, behind individual withheld receipts at $2.683 trillion for the fiscal year, non-withheld individual receipts at $965 billion and corporate taxes at $392 billion. In the space of roughly four months, tariffs as a share of federal revenue have more than doubled to around 5% from about 2% historically. The June budget surplus represented a turnaround from the $71 billion deficit in June 2024. The new tariff-related revenue helped boost total budget receipts last month by 13%, or $60 billion, to $526 billion, a record for that month, the Treasury said. Outlays in June fell 7%, or $38 billion, to $499 billion. But adjusting for calendar shifts of some revenue and benefit payments, it said there would have been a budget deficit of $70 billion in June along with a year-ago adjusted deficit of $143 billion. The overall year-to-date deficit, however, increased 5%, or $64 billion, to $1.337 trillion, as outlays rose for healthcare programmes, Social Security retirement benefits, defence needs, debt interest and the Department of Homeland Security, the Treasury said. Receipts for the first nine months of the fiscal year rose 7%, or $254 billion, to a record $4.008 trillion, driven in part by withheld taxes from higher employment and wages, while outlays grew 6%, or $318 billion, to a record $5.346 trillion. The Treasury's interest costs on the national debt continued to grow, exceeding all other individual outlays at $921 billion for the first nine months of the fiscal year, up 6%, or $53 billion, from the year-ago period. But the Treasury's weighted average interest rate largely had stabilised at 3.3% at the end of June, up two basis points from a year ago, a Treasury official said. Bessent earlier this week suggested a steeper ramp-up in tariff collections, telling a cabinet meeting that calendar year 2025 collections could grow to $300 billion by the end of December. At the June run rate, gross customs collections would hit $276.5 billion in six months' time, which means reaching Bessent's target would require some increases. Ernie Tedeschi, Economics Director of the Budget Lab at Yale University, said it may take more time for the tariff revenue to fully ramp up because businesses and consumers have sought to front-run the duties by buying ahead. Once that effect fades and Trump implements higher reciprocal tariff rates after an August 1 deadline, the Treasury may collect an extra $10 billion in tariffs per month, bringing the total to $37 billion, he said.
CNN
29-01-2025
- Politics
- CNN
Inside the ordeal of deported migrants as US and Colombia squared off
'Do you know who the next president is? The fun is over for you here, the music has changed … you've got to go back.' Daniel Oquendo, 33, remembers well the first words US border agents told him after he crossed the US-Mexico border on January 20. Eight days later, Oquendo is back in his native Colombia, after a bitter diplomatic row between US President Donald Trump and Colombian President Gustavo Petro. He was one of about 200 Colombian migrants who were supposed to be deported early on Sunday – but were turned around by Colombian authorities. 'It was very confusing: Nobody told us anything. US Customs and Border (Protection) took us from our cells in San Diego and put us on a C-130, with seats and all of that. They told us the flight to Bogota was going to be seven hours, but when we landed, it was 10 hours, and as soon as the back door for the plane opened, we could see an ambulance saying 'Houston,'' Oquendo said. 'We were back in the United States, and still, nobody would tell us nothing.' It turned out that Petro had blocked the landing of the two US military flights carrying deportees, sparking a back-and-forth with his US counterpart involving threats of tariff wars before Bogota finally relented. After Houston, Oquendo and the other migrants spent the night in El Paso, where CBP (US Customs and Border Protection) officers took their handcuffs away, and on Monday, officials from the Colombian consulate arrived to interview them. His return to US soil was brief. On Tuesday, Oquendo was finally repatriated to Colombia in an aircraft sent by the Colombian government, which touted the flight as a more dignified and respectful transport. Deportation flights were nothing new to Colombia – there were more than a hundred flights in 2024 – but the spectacle of handcuffed deportees in a military plane had crossed a line for Petro. 'A migrant is not a criminal and must be treated with the dignity every human being is worthy of … I can't have the migrants stay in a country that doesn't want them; but if this country sends them away it must be with dignity and respect towards them and towards our country. We will welcome back our fellow countrymen on civilian planes, without a criminal's treatment,' the Colombian president posted on Sunday morning. Oquendo thinks the showdown was superfluous. 'That was just an unnecessary media circus. The president wanted to make a case out of us and … what for? In the end, he had to accept the deportations. It was all for nothing,' he told CNN. But not all of the deportees agree. Andrei Barrientos, 36, another Colombian who was deported on Tuesday morning from El Paso to Bogota, told CNN it was a surprisingly welcoming experience after days of uncertainty. 'One must thank the president for the nice treatment they gave us. We were still in El Paso, and as soon as we boarded the plane, the officers there smiled to us and told us: 'Welcome to Colombia!'' he said. Neither of the two knew of the diplomatic standoff behind their repeated round trips until they arrived in Bogota, they said. 'I learnt all of this today, when I landed in Bogota and it was full of journalists asking me what had happened … What did I know? In the CBP centers, there are televisions, but they don't allow news channels, it's all sports and old movies, and of course we didn't have a phone. Only now I'm realizing what happened there,' Barrientos told CNN. He believes Petro had an important point to prove. 'We didn't do anything wrong: I'm not a criminal. Yes, I crossed the border illegally, but I was doing that to help my family … and they treated me like I was a gangster,' he told CNN. While handcuffing and removing the belts and shoelaces of deportees is standard practice in this type of operation, both Oquendo and Barrientos feel they were treated in a demeaning way by US immigration officials, especially when boarding the military flight in the early hours of Sunday. 'The CBP, they mostly spoke Spanish, they handcuffed us and pushed around as if we were in jail. I understand the military has some procedures, but there were children, families,' said Oquendo, who crossed in Tijuana and was apprehended in San Diego. According to the Colombian Migration Institute, among the migrants deported this week were 77 women and 16 minors. For Barrientos, it was his second time being deported from the US – and likely his last. 'I don't want to try a third time,' he told CNN, saying now he plans to look for opportunities in his native Medellin. Oquendo, though, points to intractable economic conditions in Colombia that he says make it impossible to stay. 'My whole family chipped in to help me, I can't let them down,' he told CNN. 'Right now I'm here in Bogota and I have a place to stay, but there are no jobs here. I have to keep going somewhere.'
Saudi Gazette
29-01-2025
- Politics
- Saudi Gazette
Inside the ordeal of deported migrants as US and Colombia squared off
BOGOTA — 'Do you know who the next president is? The fun is over for you here, the music has changed ... you've got to go back.'Daniel Oquendo, 33, remembers well the first words US border agents told him after he crossed the US-Mexico border on January days later, Oquendo is back in his native Colombia, after a bitter diplomatic row between US President Donald Trump and Colombian President Gustavo Petro. He was one of about 200 Colombian migrants who were supposed to be deported early on Sunday – but were turned around by Colombian authorities.'It was very confusing: Nobody told us anything. US Customs and Border (Protection) took us from our cells in San Diego and put us on a C-130, with seats and all of that. They told us the flight to Bogota was going to be seven hours, but when we landed, it was 10 hours, and as soon as the back door for the plane opened, we could see an ambulance saying 'Houston,'' Oquendo said.'We were back in the United States, and still, nobody would tell us nothing.'It turned out that Petro had blocked the landing of the two US military flights carrying deportees, sparking a back-and-forth with his US counterpart involving threats of tariff wars before Bogota finally Houston, Oquendo and the other migrants spent the night in El Paso, where CBP (US Customs and Border Protection) officers took their handcuffs away, and on Monday, officials from the Colombian consulate arrived to interview return to US soil was brief. On Tuesday, Oquendo was finally repatriated to Colombia in an aircraft sent by the Colombian government, which touted the flight as a more dignified and respectful flights were nothing new to Colombia – there were more than a hundred flights in 2024 – but the spectacle of handcuffed deportees in a military plane had crossed a line for Petro.'A migrant is not a criminal and must be treated with the dignity every human being is worthy of ... I can't have the migrants stay in a country that doesn't want them; but if this country sends them away it must be with dignity and respect towards them and towards our country. We will welcome back our fellow countrymen on civilian planes, without a criminal's treatment,' the Colombian president posted on Sunday thinks the showdown was superfluous. 'That was just an unnecessary media circus. The president wanted to make a case out of us and ... what for? In the end, he had to accept the deportations. It was all for nothing,' he told not all of the deportees agree. Andrei Barrientos, 36, another Colombian who was deported on Tuesday morning from El Paso to Bogota, told CNN it was a surprisingly welcoming experience after days of uncertainty.'One must thank the president for the nice treatment they gave us. We were still in El Paso, and as soon as we boarded the plane, the officers there smiled to us and told us: 'Welcome to Colombia!'' he of the two knew of the diplomatic standoff behind their repeated round trips until they arrived in Bogota, they said.'I learned all of this today, when I landed in Bogota and it was full of journalists asking me what had happened ... What did I know? In the CBP centers, there are televisions, but they don't allow news channels, it's all sports and old movies, and of course we didn't have a phone. Only now I'm realizing what happened there,' Barrientos told believes Petro had an important point to prove.'We didn't do anything wrong: I'm not a criminal. Yes, I crossed the border illegally, but I was doing that to help my family ... and they treated me like I was a gangster,' he told handcuffing and removing the belts and shoelaces of deportees is standard practice in this type of operation, both Oquendo and Barrientos feel they were treated in a demeaning way by US immigration officials, especially when boarding the military flight in the early hours of Sunday.'The CBP, they mostly spoke Spanish, they handcuffed us and pushed around as if we were in jail. I understand the military has some procedures, but there were children, families,' said Oquendo, who crossed in Tijuana and was apprehended in San to the Colombian Migration Institute, among the migrants deported this week were 77 women and 16 Barrientos, it was his second time being deported from the US – and likely his last. 'I don't want to try a third time,' he told CNN, saying now he plans to look for opportunities in his native though, points to intractable economic conditions in Colombia that he says make it impossible to stay. 'My whole family chipped in to help me, I can't let them down,' he told CNN. 'Right now I'm here in Bogota and I have a place to stay, but there are no jobs here. I have to keep going somewhere.' — CNN
Yahoo
29-01-2025
- Politics
- Yahoo
Inside the ordeal of deported migrants as US and Colombia squared off
'Do you know who the next president is? The fun is over for you here, the music has changed … you've got to go back.' Daniel Oquendo, 33, remembers well the first words US border agents told him after he crossed the US-Mexico border on January 20. Eight days later, Oquendo is back in his native Colombia, after a bitter diplomatic row between US President Donald Trump and Colombian President Gustavo Petro. He was one of about 200 Colombian migrants who were supposed to be deported early on Sunday – but were turned around by Colombian authorities. 'It was very confusing: Nobody told us anything. US Customs and Border (Protection) took us from our cells in San Diego and put us on a C-130, with seats and all of that. They told us the flight to Bogota was going to be seven hours, but when we landed, it was 10 hours, and as soon as the back door for the plane opened, we could see an ambulance saying 'Houston,'' Oquendo said. 'We were back in the United States, and still, nobody would tell us nothing.' It turned out that Petro had blocked the landing of the two US military flights carrying deportees, sparking a back-and-forth with his US counterpart involving threats of tariff wars before Bogota finally relented. After Houston, Oquendo and the other migrants spent the night in El Paso, where CBP (US Customs and Border Protection) officers took their handcuffs away, and on Monday, officials from the Colombian consulate arrived to interview them. His return to US soil was brief. On Tuesday, Oquendo was finally repatriated to Colombia in an aircraft sent by the Colombian government, which touted the flight as a more dignified and respectful transport. Deportation flights were nothing new to Colombia – there were more than a hundred flights in 2024 – but the spectacle of handcuffed deportees in a military plane had crossed a line for Petro. 'A migrant is not a criminal and must be treated with the dignity every human being is worthy of … I can't have the migrants stay in a country that doesn't want them; but if this country sends them away it must be with dignity and respect towards them and towards our country. We will welcome back our fellow countrymen on civilian planes, without a criminal's treatment,' the Colombian president posted on Sunday morning. Oquendo thinks the showdown was superfluous. 'That was just an unnecessary media circus. The president wanted to make a case out of us and … what for? In the end, he had to accept the deportations. It was all for nothing,' he told CNN. But not all of the deportees agree. Andrei Barrientos, 36, another Colombian who was deported on Tuesday morning from El Paso to Bogota, told CNN it was a surprisingly welcoming experience after days of uncertainty. 'One must thank the president for the nice treatment they gave us. We were still in El Paso, and as soon as we boarded the plane, the officers there smiled to us and told us: 'Welcome to Colombia!'' he said. Neither of the two knew of the diplomatic standoff behind their repeated round trips until they arrived in Bogota, they said. 'I learnt all of this today, when I landed in Bogota and it was full of journalists asking me what had happened … What did I know? In the CBP centers, there are televisions, but they don't allow news channels, it's all sports and old movies, and of course we didn't have a phone. Only now I'm realizing what happened there,' Barrientos told CNN. He believes Petro had an important point to prove. 'We didn't do anything wrong: I'm not a criminal. Yes, I crossed the border illegally, but I was doing that to help my family … and they treated me like I was a gangster,' he told CNN. While handcuffing and removing the belts and shoelaces of deportees is standard practice in this type of operation, both Oquendo and Barrientos feel they were treated in a demeaning way by US immigration officials, especially when boarding the military flight in the early hours of Sunday. 'The CBP, they mostly spoke Spanish, they handcuffed us and pushed around as if we were in jail. I understand the military has some procedures, but there were children, families,' said Oquendo, who crossed in Tijuana and was apprehended in San Diego. According to the Colombian Migration Institute, among the migrants deported this week were 77 women and 16 minors. For Barrientos, it was his second time being deported from the US – and likely his last. 'I don't want to try a third time,' he told CNN, saying now he plans to look for opportunities in his native Medellin. Oquendo, though, points to intractable economic conditions in Colombia that he says make it impossible to stay. 'My whole family chipped in to help me, I can't let them down,' he told CNN. 'Right now I'm here in Bogota and I have a place to stay, but there are no jobs here. I have to keep going somewhere.'
CNN
29-01-2025
- Politics
- CNN
Inside the ordeal of deported migrants as US and Colombia squared off
'Do you know who the next president is? The fun is over for you here, the music has changed … you've got to go back.' Daniel Oquendo, 33, remembers well the first words US border agents told him after he crossed the US-Mexico border on January 20. Eight days later, Oquendo is back in his native Colombia, after a bitter diplomatic row between US President Donald Trump and Colombian President Gustavo Petro. He was one of about 200 Colombian migrants who were supposed to be deported early on Sunday – but were turned around by Colombian authorities. 'It was very confusing: Nobody told us anything. US Customs and Border (Protection) took us from our cells in San Diego and put us on a C-130, with seats and all of that. They told us the flight to Bogota was going to be seven hours, but when we landed, it was 10 hours, and as soon as the back door for the plane opened, we could see an ambulance saying 'Houston,'' Oquendo said. 'We were back in the United States, and still, nobody would tell us nothing.' It turned out that Petro had blocked the landing of the two US military flights carrying deportees, sparking a back-and-forth with his US counterpart involving threats of tariff wars before Bogota finally relented. After Houston, Oquendo and the other migrants spent the night in El Paso, where CBP (US Customs and Border Protection) officers took their handcuffs away, and on Monday, officials from the Colombian consulate arrived to interview them. His return to US soil was brief. On Tuesday, Oquendo was finally repatriated to Colombia in an aircraft sent by the Colombian government, which touted the flight as a more dignified and respectful transport. Deportation flights were nothing new to Colombia – there were more than a hundred flights in 2024 – but the spectacle of handcuffed deportees in a military plane had crossed a line for Petro. 'A migrant is not a criminal and must be treated with the dignity every human being is worthy of … I can't have the migrants stay in a country that doesn't want them; but if this country sends them away it must be with dignity and respect towards them and towards our country. We will welcome back our fellow countrymen on civilian planes, without a criminal's treatment,' the Colombian president posted on Sunday morning. Oquendo thinks the showdown was superfluous. 'That was just an unnecessary media circus. The president wanted to make a case out of us and … what for? In the end, he had to accept the deportations. It was all for nothing,' he told CNN. But not all of the deportees agree. Andrei Barrientos, 36, another Colombian who was deported on Tuesday morning from El Paso to Bogota, told CNN it was a surprisingly welcoming experience after days of uncertainty. 'One must thank the president for the nice treatment they gave us. We were still in El Paso, and as soon as we boarded the plane, the officers there smiled to us and told us: 'Welcome to Colombia!'' he said. Neither of the two knew of the diplomatic standoff behind their repeated round trips until they arrived in Bogota, they said. 'I learnt all of this today, when I landed in Bogota and it was full of journalists asking me what had happened … What did I know? In the CBP centers, there are televisions, but they don't allow news channels, it's all sports and old movies, and of course we didn't have a phone. Only now I'm realizing what happened there,' Barrientos told CNN. He believes Petro had an important point to prove. 'We didn't do anything wrong: I'm not a criminal. Yes, I crossed the border illegally, but I was doing that to help my family … and they treated me like I was a gangster,' he told CNN. While handcuffing and removing the belts and shoelaces of deportees is standard practice in this type of operation, both Oquendo and Barrientos feel they were treated in a demeaning way by US immigration officials, especially when boarding the military flight in the early hours of Sunday. 'The CBP, they mostly spoke Spanish, they handcuffed us and pushed around as if we were in jail. I understand the military has some procedures, but there were children, families,' said Oquendo, who crossed in Tijuana and was apprehended in San Diego. According to the Colombian Migration Institute, among the migrants deported this week were 77 women and 16 minors. For Barrientos, it was his second time being deported from the US – and likely his last. 'I don't want to try a third time,' he told CNN, saying now he plans to look for opportunities in his native Medellin. Oquendo, though, points to intractable economic conditions in Colombia that he says make it impossible to stay. 'My whole family chipped in to help me, I can't let them down,' he told CNN. 'Right now I'm here in Bogota and I have a place to stay, but there are no jobs here. I have to keep going somewhere.'
