18 Trillion Out of Thin Air – Trump’s Tariff Fairy Tale and the Reality Trump Will Never Understand

Donald Trump claims that the United States has taken in more than 18 trillion dollars in just ten months because of his tariffs. He contrasts this figure with what he attributes to the Biden administration and presents it as proof of economic strength. This claim does not withstand any scrutiny. It is not ambiguous, it is not exaggerated – it is simply a lie.

Because of the tariffs, we have taken in 18 trillion dollars. There has never been anything like it. The Biden administration took in less than one trillion dollars in four years. We took in more than 18 trillion dollars in ten months. That is good! (And a lie – editor’s note)

Note: Billion → trillion
1 Billion = 1.000.000.000.000 = 10¹²

Milliarde → billion
1 Milliarde = 1.000.000.000 = 10⁹

Million → million
1 Million = 1.000.000 = 10⁶

Tausend → thousand
1 Tausend = 1.000 = 10³

At no point in their history have the United States even come close to collecting 18 trillion dollars in tariff revenue. Not in ten months, not in ten years, not in total. The official figures are publicly available, published by the US Department of the Treasury itself. In the Monthly Treasury Statement for November 2025, in the table titled “Receipts of the U.S. Government,” tariff revenues are clearly listed. It states in black and white that in November 2025, revenues from tariffs amounted to about 30.8 billion dollars. Since the beginning of the fiscal year, they totaled roughly 62.1 billion dollars. These are real, booked revenues. No estimates, no projections, no political rhetoric.

Table 3 shows the scale: In November 2025, the US federal government took in a total of 336 billion dollars. Of that, 30.8 billion dollars came from tariffs. Since the start of the fiscal year, total revenues amounted to 740 billion dollars, with tariff revenues at around 62.1 billion dollars. Even here it becomes clear that tariffs make up only a small portion of state revenues.

For comparison, the total annual revenues of the US federal government from all taxes combined amount to about four to five trillion dollars. Income tax, payroll tax, corporate taxes, excise taxes, social contributions – everything in one pot. Tariffs are a minor item within that. Even with drastic increases, they remain in the range of a few hundred billion dollars per year. Billions, not trillions. Anyone who speaks of 18 trillion is citing a number that is many times larger than anything this system can possibly generate.

Table 4 provides the detailed verification: Under “Customs Duties,” tariffs are listed precisely – 30.756 billion dollars in November and 62.109 billion dollars in the fiscal year to date. By comparison, income tax alone generated more than 363 billion dollars over the same period. The figures come from the Monthly Treasury Statement of the US Department of the Treasury and show in black and white that tariffs are not a trillion dollar source, but a secondary item in the federal budget.

The absurdity becomes even clearer in relation to the state budget. Eighteen trillion dollars would correspond to four times the annual federal expenditures of the United States. To generate such a sum through tariffs alone, either all imports would have to be burdened with ruinous duties or the US economy would have had to multiply in a very short period of time. Both are economically impossible.

There is another point that is frequently omitted in public portrayals and is crucial for any serious assessment: tariffs are not money that flows into the state treasury from abroad. They are paid by American importers and in practice passed on to consumers. Tariffs function like an indirect domestic tax. They raise prices, reduce purchasing power, and burden companies along the entire supply chain. They are not a gift, but a redistribution with real costs. The 18 trillion claim fits into a familiar pattern. During his first term, Trump repeatedly claimed that trade wars were easy to win. At the same time, US farmers had to be supported with multi billion dollar aid programs to offset losses from retaliatory tariffs. He spoke of a booming state budget while the budget deficit was growing. Numbers were not explained, but staged. Size replaced accuracy.

Even smaller, seemingly more realistic targets fail to withstand scrutiny. Even the occasionally announced goal of 300 billion dollars in annual tariff revenue was never reached. The official Treasury data are far below that level. Even this figure would have required a massive expansion and increase of tariffs, with correspondingly higher burdens for the economy and consumers. Let alone 18 trillion.

What can one expect from someone who, for example, presents himself at Christmas 2025 like this?

Donald J. Trump
Position: President of the United States
Biography:
45th and 47th President of the USA, businessman, reality TV star. Returned to the White House in 2025 after an unprecedented election period. His political career is marked by populism, nationalism, and legal controversies.
Views:
America First, isolationism, rejection of institutions like NATO and the UN, radical immigration and economic policy. Opponent of "wokeness," diversity programs, and climate protection.
Scandals:
Trump was criminally indicted in 2023 on multiple counts, including election interference and mishandling classified information. He has a conviction for falsifying business records. Additionally, he was impeached twice and remains entangled in various legal disputes.

✅ Fact Check:

Business / Project
Status / Evaluation
Details

Trump Airlines (Trump Shuttle)
❌ FAILED
In 1989, Trump purchased the Eastern Air Shuttle for $365 million, largely financed through debt. Luxurious features like gold fixtures and carpets failed to attract new customers. In 1992, the airline was surrendered to US Airways under bank pressure.

Trump Casinos
❌ FAILED
Trump Taj Mahal, Trump Plaza, Trump Marina – all filed for bankruptcy. Trump’s casino empire (Trump Entertainment Resorts) filed for bankruptcy four times between 1991 and 2009. Investors lost hundreds of millions of dollars.

Trump Mortgage
❌ FAILED
Founded in 2006 – right before the financial crisis. The CEO was a former DJ with no banking experience. Effectively shut down in 2007. Trump claimed it would become “the world’s biggest mortgage company,” despite no relevant expertise.

Trump University
❌ FAILED & ILLEGAL
Sued for fraud. It was a non-accredited “seminar program.” In 2016, Trump paid $25 million in damages. A judge called it “systematic fraud against retirees and low-income individuals.”

Trump Vodka
❌ FAILED
Launched in 2006 with heavy marketing (“Success Distilled”), but poor sales led to production being halted by 2011. The Russian market, which Trump had targeted, rejected the product.

Trump Steaks
❌ FAILED
Sold exclusively through Sharper Image – the partnership ended quickly in 2007 due to what the retailer called “catastrophic” sales.

Trump Magazine
❌ FAILED Luxury glossy magazine launched in 2006 – disappeared by 2009 due to lack of advertisers.

Trump Water / Ice
⚠️ DISPUTED / NICHE PRODUCT Marketed as “Trump Ice,” sold mostly in Trump-owned hotels. No significant market presence.

Trump Foundation
❌ DISSOLVED & ILLEGAL
Shut down by the New York Attorney General. Trump used foundation funds for personal expenses. A court ordered him to pay $2 million for “illegal self-dealing.”

GoTrump.com
❌ FAILED
Travel search engine (2006), existed only briefly – drew few users.

Trump Tower Tampa
❌ FAILED
Planned luxury skyscraper, never built. Investors sued Trump.

Trump: The Game
❌ FAILED
Board game (1989, rebooted in 2004), quickly pulled from shelves due to lack of interest.

Trump Network (Vitamin-Multi-Level-Marketing)
❌ FAILED
Launched in 2009, sold in 2011 and discontinued.

Trump Hotels in Baku, Toronto, Panama
❌ FAILED + CORRUPTION ALLEGATIONS All projects were terminated or sold, often involving lawsuits or political scandals.

China Connection
⚠️ DISPUTED
Despite harsh rhetoric, Trump maintained bank accounts in China and actively pursued trademarks there – 38 Chinese trademarks were granted during his presidency.

Bankruptcies
❗ MULTIPLE – At least 6 documented At least six bankruptcies: 1991 (Trump Taj Mahal), 1992 (Trump Plaza Hotel), 2004 (Trump Hotels & Casino Resorts), 2009 (Trump Entertainment Resorts). Trump claims he was simply “playing the system.”

This is where the real core of the problem lies. Large numbers have an effect, even when they are factually false. When they are not contextualized, not verified, and not put into proportion, announcements turn into supposed successes. Reality disappears behind the sheer size of the claim. A sober economic perspective leaves no room for this. Tariff revenues can rise or fall. They can generate short term income. But they are subject to clear limits: actual trade volume, price elasticity of demand, and the reactions of other states. Anyone who ignores these limits leaves the realm of economics and enters that of unfounded assertion.

Many react to such claims with indifference. Oh nonsense, the information is good enough for me. That is understandable. No one has time to read every table published by the Treasury Department, let alone integrate it into media coverage. But this is precisely where the risk lies. Because shortened or false representations have an effect. They shape perception, shift benchmarks, and set frames of comparison. A public opinion does not emerge from a single lie, but from the repetition of unsubstantiated claims, regardless of whether they are perceived nationally or internationally. It determines whether economic competence is recognized or merely asserted. And in the end, it influences political judgments – often without those affected being aware of it.

Eighteen trillion dollars in tariff revenue do not exist. They never have. And they will not become real through repetition. What is dangerous is not only the claim itself, but the environment that passes it on without scrutiny. This is where the responsibility of journalism begins: not with the size of a number, but with its truth.