Tariff income could potentially be utilized to reduce the country's colossal $37.2 trillion debt, according to Bessent.

The Trump administration is considering using a portion of the tariff revenue to help reduce the ballooning national debt, according to Treasury Secretary Scott Bessent. As of August 15, 2025, the total tariff revenue stands at $156.4 billion, as per the latest data from the Treasury Department.

This revenue is expected to be revised for the year, with Bessent anticipating an estimate that surpasses the previous $300 billion projection. However, the exact annual tariff revenue figure for this year remains undisclosed.

The nation's debt, on the other hand, is nearing a staggering $37.2 trillion, as of August 18, 2025. This alarming figure has intensified the debate over government spending, taxation, and deficit reduction.

Bessent and President Donald Trump are reportedly focused on addressing this issue, with the secretary stating that the tariff revenue could potentially be used to bring down the deficit-to-GDP ratio. The Treasury Department has not yet announced how the additional tariff revenue will be used beyond potential debt reduction and improvement of the deficit-to-GDP ratio.

U.S. Trade Representative Jamieson Greer discussed President Trump's tariff rates on 'Mornings with Maria.' However, the exact impact of tariffs on the national debt reduction and deficit reduction efforts is not clear from the provided information.

It is known that the cost of tariffs often falls on consumers, as U.S. businesses pay higher import taxes to the federal government and then raise prices to offset the economic burden. In July 2025, the U.S. collected more than $29 billion in tariff revenues, the highest monthly total to date this year.

Despite the promising revenue figures, no specific details about the proposed use of tariff revenue to lower the national debt have been confirmed beyond Bessent's statements. The Treasury Department has yet to release further information on this matter.