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U.S. Tariff Revenue Soars 86% in April, Boosting Budget Surplus

Word on the StreetMonday, May 12, 2025 10:08 pm ET

1min read

In April, the United States experienced a record high in tariff revenue, totaling 16.3 billion dollars. This figure marks an 86% increase from March's 8.75 billion dollars and more than doubles the 7.1 billion dollars recorded in the same period last year. The total tariff revenue for the year so far stands at 63.3 billion dollars, an 18% increase compared to the same period in 2024.

The significant increase in tariff revenue can be attributed to the implementation of additional tariffs by Donald Trump. Starting from April 2, a 10% tariff was imposed on all imported goods into the United States, building upon previously enacted tariffs. This move has significantly boosted the country's tariff income, with daily earnings from tariffs exceeding 500 million dollars in April. This figure contrasts sharply with Trump's earlier claim that the United States was earning 2 billion dollars daily from tariffs.

The surge in tariff revenue contributed to a 258.4 billion dollars budget surplus in April, a 23% increase from the 209.5 billion dollars recorded in the same month last year. It is worth noting that April typically sees a budget surplus due to the deadline for individual income tax filings falling in mid-April. Despite the large budget deficit, the increased tariff revenue has helped narrow the gap. The budget surplus for the first seven months of the 2025 fiscal year, starting from October 1, 2024, stands at 1.05 trillion dollars, still 13% higher than the same period last year.

Overall, the United States' fiscal revenue for April increased by 10% year-over-year, while expenditures decreased by 4%. For the fiscal year to date, revenue has grown by 5%, and expenditures have increased by 9%. High interest rates continue to pose a significant burden on the budget. In April, the net interest expenditure on 3.62 trillion dollars of national debt amounted to 89 billion dollars, the highest expenditure category after social security. For the fiscal year to date, the cumulative net interest expenditure has reached 579 billion dollars, the second-highest expenditure category.

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