The U.S. flag flies over a container ship unloading its cargo from Asia, on the Port of Lengthy Seashore, Calif., on Aug. 1, 2019. Mark Ralston / AFP by way of Getty Photos
New knowledge from the Treasury Division present that surging tariff revenues in June helped the U.S. authorities submit an sudden price range surplus of $27 billion, providing a uncommon fiscal shiny spot amid persistently excessive federal deficits and suggesting that President Donald Trump’s tariff insurance policies have gotten a major supply of presidency income.
After operating a $316 billion deficit in Could, the federal government recorded a surplus of simply over $27 billion final month, in line with knowledge launched on July 11 by the Treasury Division. The tariff windfall helped slim the fiscal year-to-date deficit to $1.34 trillion—a slight 1 p.c enchancment from the identical interval final yr. Against this, June 2024 noticed a $71 billion deficit.