U.S. customs duty collections have hit unprecedented levels, topping $100 billion for the first time in a fiscal year, as President Donald Trump’s revived tariff policies begin to significantly impact federal revenues. The Treasury Department reported Friday that the government recorded a surprise $27 billion budget surplus in June 2025 — a sharp contrast to the $71 billion deficit recorded in June 2024.
According to the latest Monthly Treasury Statement, customs duties surged to $27.2 billion on a gross basis and $26.6 billion on a net basis after accounting for refunds — marking the highest monthly customs revenue ever recorded. For the first nine months of the fiscal year, gross customs collections have soared to $113.3 billion, with net collections reaching $108 billion, nearly doubling last year’s totals.
The unexpected surplus and soaring tariff revenue are expected to bolster Trump’s argument that tariffs can serve both as a major source of government income and as a strategic foreign policy lever. “The big money will start to flow in,” Trump remarked earlier this week, referring to planned higher “reciprocal” tariffs on key U.S. trading partners starting August 1.
Treasury Secretary Scott Bessent echoed that sentiment in a post on social media platform X, declaring that the U.S. is now “reaping the rewards” of Trump’s trade strategy. “As President Trump works to reclaim our nation’s economic sovereignty, today’s figures show record customs duties — and without triggering inflation,” Bessent wrote.
The revenue spike also contributed to a 13% rise in overall federal receipts in June, totaling $526 billion — a record high for the month. Meanwhile, federal outlays dropped by 7% to $499 billion.
Despite the June surplus, the broader fiscal picture remains concerning. The total year-to-date federal deficit has widened by 5%, reaching $1.337 trillion. This increase is attributed to rising expenditures in health care, Social Security, defense, interest payments on national debt, and homeland security.
Customs duties now represent about 5% of all federal revenues — more than double their historical share of around 2% just four months ago — underscoring the growing fiscal weight of Trump’s trade policies as the government approaches the end of the fiscal year on September 30.
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