BlockBeats reports that on May 13, data from the U.S. Treasury showed that tariff revenue reached 16 billion dollars in April, a surge of 9 billion dollars compared to the same period last year, an increase of 130%. According to data compiled by Bloomberg, this marks the highest monthly tariff revenue in at least a decade. The surge in tariff revenue helps curb the further expansion of the U.S. budget deficit.
However, U.S. President Trump is seeking trade agreements with specific countries, which may lead to a reduction in future tariff revenue. In the first seven months of this fiscal year, the U.S. federal government recorded a deficit of 1.05 trillion dollars, which, after adjusting for calendar year differences, expanded by 13% compared to the same period last year. Treasury officials stated that if the deferred tax factors that inflate fiscal year 2024 revenue are excluded, the actual increase in the fiscal year 2025 deficit is 4%.
In addition to tariffs, another revenue category that has seen growth this fiscal year is the consumption tax, which has increased by 10 billion dollars over the past seven months. Treasury officials stated that this is mainly due to the newly introduced stock buyback tax. (Jin Shi)
