The U.S. Treasury’s tax revenue from tariff reached a record $7.05 billion in August after a 64.9% year over year increase. The share of tax revenue relating to section 301 duties on Chinese exports likely reached $3.91 billion. That will increase significantly as a result of the extension of tariffs to cover almost all U.S. imports from China in two phases on Sept. 1 and Dec. 15, as well as a delayed increase in existing duties to 30% from 25% from Oct. 15. The resulting tariff revenue could reach $8.84 billion by Feb. 2020 on the basis of current imports, potentially bringing the total...