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U.S. Customs Duty Revenue Hits Record $288 Billion

Photo by Renaldo Matamoro / Unsplash

The U.S. collected a record $288 billion in customs duties over the past year, more than triple the level seen just a few years ago. Higher tariffs and increased import values have sharply boosted government revenue from trade taxes.

Source: U.S. Treasury data via Charlie Bilello

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Would Oil Bring A Resource Curse In Jamaica?

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One economist even went as far as to say: “I hope oil is never discovered in Jamaica. Countries are more likely to get rich if they have to create things, like Singapore and South Korea, instead of just pulling stuff out of the ground, like Venezuela and Angola.”

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