The Department of the Treasury on Friday announced that the government had posted a surplus for June due to an influx in tariff revenue.
The Treasury’s monthly statement revealed that the government had posted $499 billion in outlets during June while bringing in $526 billion in revenue. The $27 billion surplus was also the exact value of receipts from “customs duties.” Since the beginning of the year, moreover, the U.S. has brought in $108 billion in customs duties.
That figure is sure to prove a boon to Trump’s fiscal approval and possibly assuage concerns from tariff skeptics about their impact on the broader economy.
Trump himself has previously floated the prospect of tariff revenue eventually overtaking the income tax and paving the way for its elimination, though such a development appears a long way off.
In the meantime, Treasury Secretary Scott Bessent and other top administration officials continue to pursue revised trade deals with other nations in the wake of “Liberation Day.” Thus far, the U.S. has secured significant agreements with the UK and Vietnam.
