In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That’s why economists say consumers usually end up footing the bill for tariffs.
The Secretary of the Treasury is charged with establishing regulations on the collection of tariffs and U.S. Customs and Border Protection (CBP) administers those regulations at U.S. ports of entry.
When a good enters a U.S. port of entry, merchandise is classified and tariffs are assessed using the Harmonized Tariff Schedule of the United States (HTSUS), a compendium of tariff rates based on a globally standardized nomenclature.
Today, importers self-classify and declare the value or quantity of their goods. CBP reviews the paperwork, performs occasional audits, and then collects any applicable tariffs or penalties as well as any
administrative fees. Finally, CBP deposits any revenue from tariffs or other penalties into the General Fund of the United States