12-July-2025
Economy News
 
US Customs Duties Top $100 Billion for First Time in a Fiscal Year
12-Jul-2025

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. 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 records, quadrupling to $27.2 billion on a gross basis and $26.6 billion on a net basis after refunds.

News Source:- https://money.usnews.com/investing/news/articles/2025-07-11/trumps-tariff-collections-expected-to-grow-in-june-us-budget-data