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US customs duties were more than $100 billion in June, producing a budget surplus for the month of $27 billion. This is the first time customs duties have exceeded $100 billion in a fiscal year.
Revenue from President Trump’s signature tariffs is now contributing significant amounts of revenue for the US treasury, making them the fourth largest source of federal revenue.
US Treasury Secretary Scott Bessent hailed the figures and said they showed Trump’s tariff agenda is working for America.
“As President Trump works hard to take back our nation’s economic sovereignty, today’s Monthly Treasury Statement is demonstrating record customs duties – and with no inflation!” Bessent said.
On Tuesday, the President said “the big money” would start to flow into US coffers when he imposed higher levels of reciprocal tariffs on trading partners from 1 August.
Trump announced 50% levies on copper goods and imports from Brazil, and a 35% tariff on Canadian goods.
Secretary Bessent has suggested US tariff collections could rise to $300 billion by December.
