The U.S. flag flies over a container ship unloading its cargo from Asia, at the Port of Long Beach, Calif., on Aug. 1, 2019. Mark Ralston / AFP via Getty Images
New data from the Treasury Department show that surging tariff revenues in June helped the U.S. government post an unexpected budget surplus of $27 billion, offering a rare fiscal bright spot amid persistently high federal deficits and suggesting that President Donald Trump’s tariff policies are becoming a significant source of government revenue.
After running a $316 billion deficit in May, the government recorded a surplus of just over $27 billion last month, according to data released on July 11 by the Treasury Department. The tariff windfall helped narrow the fiscal year-to-date deficit to $1.34 trillion—a slight 1 percent improvement from the same period last year. By contrast, June 2024 saw a $71 billion deficit.
