U.S. tariff revenue hits record high in April, budget surplus hits second-largest on record

According to Mars Finance News, on May 13, the latest data from the U.S. Treasury Department shows that the federal government's budget surplus in April reached $258 billion, the second-largest on record, representing a 23% year-on-year increase. The surplus was mainly due to strong tax revenue during the tax season and record-breaking import tariff income. In April, total tariffs reached $16 billion, an increase of approximately $9 billion compared to the same period last year, far exceeding the historical record of $9.6 billion two years ago, with an average daily contribution of over $500 million to the U.S. Treasury. At the same time, debt interest expenditure has exceeded $100 billion for the second consecutive month. Despite the agreement between the U.S. and China to reduce tariffs by 115% within 90 days, the budget deficit for the first seven months of fiscal year 2025 still reached $1.049 trillion, a 23% year-on-year increase. (Jinshi)