October's tariff revenue just hit an all-time peak—$31.4 billion flowing into federal coffers. That's not just a number on a spreadsheet. It's a signal. When tariff collections spike like this, it reshapes trade flows, tightens liquidity in certain sectors, and often sends ripples through risk assets. For those watching macro trends, this kind of revenue surge usually means trade tensions are heating up or enforcement is getting more aggressive. Either way, it's worth keeping on your radar as economic policy starts biting harder into global commerce.