U.S. tariff revenue surges 130% to $16 billion in April

Planet Daily News: U.S. Treasury data shows that tariff revenue in April reached $16 billion, surging by $9 billion compared to the same period last year, an increase of 130%. According to data compiled by Bloomberg, this sets a record for the highest monthly tariff revenue in at least a decade. The surge in tariff revenue helps curb further expansion of the U.S. budget deficit. However, U.S. President Trump is seeking to reach trade agreements with specific countries, which may reduce future tariff revenue. In the first seven months of the fiscal year, the U.S. federal government recorded a deficit of $1.05 trillion, which expanded by 13% after adjusting for calendar year differences. Treasury officials stated that if excluding the deferred tax factors that boosted 2024 fiscal year revenue, the actual increase in the 2025 fiscal year deficit is 4%. In addition to tariffs, another revenue category that has grown this fiscal year is consumption tax, which has increased by $10 billion in the past seven months. Treasury officials said this is mainly due to the newly imposed stock buyback tax.