US EditionUS Tariff Revenue Hits Fresh Record, Helping Shrink May Deficit
- In May, the U.S. Treasury reported a budget shortfall of $316 billion, supported by a record-high customs duties revenue totaling $23 billion.
- This deficit reduction followed steep tariff hikes by the Trump administration, which sharply increased customs receipts by 270% year-over-year.
- Meanwhile, HP accelerated shifting manufacturing of North America-bound products outside China, reacting to tariff-related cost increases that lowered its operating margin.
- HP’s CEO Enrique Lores stated in a May 28 call that tariffs caused margins below guidance but expects mitigation and a return to targets next quarter.
- Higher tariff revenues contributed to reducing May’s budget shortfall, although Treasury Secretary Scott Bessent cautioned that the U.S. is expected to record yet another exceptionally large deficit for the fiscal year.
Insights by Ground AI
Does this summary seem wrong?
46 Articles
46 Articles
All
Left
2
Center
17
Right
6
Denton Record-Chronicle+25 Reposted by 25 other sources
C2FO Supports Businesses Around the Globe Amid Tariff Disruptions, Reports Record Customer Satisfaction
KANSAS CITY, Mo., June 12, 2025 /PRNewswire/ -- C2FO, the world's on-demand working capital platform, continues to meet the growing demand for faster, more affordable liquidity as tariffs and global economic uncertainty disrupt businesses of all sizes. In the last…
·Denton, United States
Read Full Article
US monthly budget deficit falls as Trump tariffs boost customs receipts
The U.S. government posted a $316 billion budget deficit for May, down 9%, or $31 billion, from a year earlier, as customs receipts nearly quadrupled to a record $23 billion due to President Donald Trump's steep new import tariffs, the Treasury Department said on Wednesday.
·United Kingdom
Read Full Article
Coverage Details
Total News Sources46
Leaning Left2Leaning Right6Center17Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
C 68%
R 24%
Factuality
To view factuality data please Upgrade to Premium
