The United States is projected to collect $50 billion in monthly tariff revenue under new import duties that came into effect this week, Commerce Secretary Howard Lutnick said on Wednesday, marking a sharp increase in trade-related income.

The revised figure represents a significant jump from the roughly $30 billion collected in prior months, driven by expanded levies on goods ranging from semiconductors to pharmaceuticals. The tariffs, which range between 10% and 50%, are part of the administration’s broader economic strategy to protect domestic industries and reduce dependency on overseas supply chains.

Speaking in Washington, Lutnick said the new measures could result in annual tariff revenues surpassing $600 billion if current import volumes hold steady. “This is not just about raising revenue, it’s about rebalancing American industry and supply chains,” he said.

The tariff expansion coincides with former President Donald Trump’s renewed trade agenda, which includes one of the most protectionist stances in modern US history. The updated regime imposes some of the highest average tariff rates since the 1930s, targeting imports from major trading partners including China, Mexico, and members of the European Union.

Business groups and trade economists have warned that the new measures may increase costs for U.S. manufacturers and consumers while triggering retaliation abroad. Several U.S. retailers and logistics firms have already flagged likely price pressures ahead of the holiday season.

Global markets reacted cautiously, with trade partners expected to assess countermeasures in the coming weeks.

The Commerce Department did not release a full breakdown of the sectors contributing to the projected revenue but indicated that high-value imports in technology, pharmaceuticals, and green energy equipment were key sources.