U.S. tariff revenues have surged to a record $150 billion this year, the Treasury Department says, as President Donald Trump nears a self-imposed global trade deadline, Fox Business reported.

July alone brought in nearly $28 billion in customs duties, surpassing June’s $27 billion record. In January, tariff revenue was just $7.9 billion, more than doubling to $16.3 billion by April.

The announcement comes as Trump finalizes trade deals with the European Union and Japan.

While the administration touts the revenue, experts warn the cost may be passed to consumers through higher prices on imported goods.

Read more at Fox Business.