US EditionAmid Trump Tariffs, US Customs Duty Collection Exceeds $100 Billion In A Fiscal Year For The First Time: Report
UNITED STATES, JUL 11 – The US budget deficit grew to $1.3 trillion despite tariff revenue rising to $113 billion and record $921 billion interest costs on public debt, officials said.
- The U.S. Treasury Department announced that customs duty collections hit a record $27 billion in June 2025 and exceeded $100 billion during the initial three quarters of the 2025 fiscal year.
- This surge in customs duties resulted from President Trump's tariff policies, including planned reciprocal tariffs scheduled for August 1, partly to boost federal revenue amid rising government spending.
- Treasury Secretary Scott Bessent indicated that by the end of 2025, tariff revenues might surpass $300 billion, attributing this increase to favorable tax and spending provisions as well as rising employment and wage levels.
- Tariffs have risen to rank as the fourth biggest contributor to federal revenue, increasing their share to approximately 5% from a historical level near 2%, while official inflation rates have remained relatively low at 2.4%.
- Although tariff revenues contributed to an unexpected $27 billion budget surplus in June, the federal deficit for the fiscal year so far has grown by $64 billion, reaching approximately $1.3 trillion, driven by increased expenditures and higher costs related to debt interest.
19 Articles
19 Articles
A $100 billion mystery is unfolding on tariffs and inflation and economists are cracking the case
Economists have for months warned that tariffs would cause an inflation surge, but as of July, there’s little evidence of that in economic data, despite about $100 billion in tariffs already collected by the Treasury. Fortune asked economists to explain why. The possible reasons range from “it’s too soon” to “consumers won’t stand for it.” Since the first weeks of President Donald Trump’s second term, when the president signaled a wholesale rei…
US customs duties top $100b for first time
US customs duty collections surged again in June as President Donald Trump's tariffs gained steam, topping $100 billion for the first time during a fiscal year and helping to produce a surprise $27 billion budget surplus for the month, the Treasury Department reported on Friday. The budget data showed that tariffs are starting to build into a significant revenue contributor for the federal government, with customs duties in June hitting new reco…
US customs duties top $100 billion for first time in a fiscal year - Hawaii Tribune-Herald
WASHINGTON — U.S. customs duty collections surged again in June as President Donald Trump’s tariffs gained steam, topping $100 billion for the first time during a fiscal year and helping to produce a surprise $27 billion budget surplus for the month, the Treasury Department reported on Friday.
U.S. President Trump overwhelms his international trading partners with an unprecedented customs war. Brazil and Canada hit hard last. Now the U.S. Treasury balances a strong plus. Further increases in revenue are expected. Nevertheless, the US budget deficit is increasing.
US budget deficit widens but customs receipts surge on tariffs
WASHINGTON, United States — The US government saw its budget deficit widen from the prior year in the October to June period as spending rose. On the other hand, customs duties surged to a record after President Donald Trump’s wide-ranging tariffs on imports. The budget gap widened by $64 billion to $1.3 trillion for the first
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