The U.S. government is currently collecting tariff revenues at an annualized pace of roughly $350 billion, a “significant” amount, according to Torsten Slok, chief economist at Apollo Global Management. In his typical style, one of brevity and striking charts, Slok added that the figure equates to roughly 18% of annual household income tax payments, underscoring that tariffs are not a marginal tool but a significant revenue source shaping America’s economic and trade landscape. Tariffs—essentially taxes i ...