U.S. collected $22 billion in tariff revenue

(CNN)– $22 billion, that’s how much the United States collected in tariff payments from importers on Friday, August 22.

The U.S. has taken in nearly $30 billion in tariff revenue so far this month, already surpassing July’s record by 4 million.

That’s according to the U.S. Treasury Department.

Friday’s surge in tariff revenue results from a deferred payment system.

It gives importers until the 15th business day to submit payment for goods received the prior month.

Meanwhile, the “De Minimis” exemption that allowed goods worth less than $800 to enter the U.S. duty-free is set to expire later this week.