The U.S. Treasury had a 55.6% year over year increase in customs duties paid by U.S. importers in July, reaching $6.47 billion for the month. That was the highest since January when duties were paid for the pre-tariff increase surge of imports from December. On a fiscal-year-to-date basis (Oct. 1, 2019 to Jul. 31, 2019) means the rise in customs duties has accounted for 26.0% of the rise in total U.S. Treasury income. The average duty rate across all U.S. imports therefore reached 3.0%. That compares to a low of 1.4% in May 2018 before the section 301 duties associated with the trade ...