According to BlockBeats, data from the U.S. Treasury Department showed that tariff revenue in April reached $16 billion, a surge of $9 billion, or 130%, from the same period last year. This is the highest monthly record in at least a decade.
President Trump is seeking trade deals with certain countries, which could reduce future tariff revenues. In the first seven months of this fiscal year, the U.S. federal government posted a deficit of $1.05 trillion, up 13% from the same period last year.
Treasury officials said that if deferred taxes are excluded, the deficit would increase by 4% in fiscal 2025. In addition, consumption tax revenue increased by $10 billion in the past seven months, mainly due to a new stock buyback tax.