New Report Shows Govt. Revenue Exceeded Expectations In June

In June, the federal government recorded a surplus of $27 billion, entirely generated from tariffs, marking a historic first in modern times and representing another success for President Donald Trump’s economic strategies.

As per the latest figures released on Friday by the Treasury Department, the total revenue for the month reached $526 billion, while expenditures amounted to $499 billion. The $27 billion surplus corresponds precisely to the revenue generated solely from tariffs, as reported by The Center Square.

Additionally, gas prices have reached a four-year low, and grocery prices remained stable throughout June, alleviating concerns that tariffs would lead to increased costs. Instead, the data suggests a contrary trend.

Treasury Secretary Scott Bessent remarked on social media, “The tariff panic and inflation fearmongering from Democrats and their allies in the media has not proven accurate. Imported goods prices have decreased this year, declining even more rapidly than the prices of overall goods.”

Thus far this year, the government has collected $108 billion from tariffs, with Bessent indicating that this figure could rise to $300 billion by the end of the year.

Recently, Trump imposed a 50 percent tariff on imports from Brazil and introduced tariffs ranging from 25 percent to 40 percent on products from over a dozen other countries, including U.S. allies.

Critics caution that such an aggressive trade policy may jeopardize international relations. However, fiscal conservatives and deficit hawks commend the approach, asserting that it is a daring method to generate revenue without increasing taxes.

Republicans in Congress are optimistic that tariff revenues will help mitigate the expenses associated with Trump’s multitrillion-dollar “big, beautiful bill,” which secures most of the tax cuts from 2017 and introduces new pro-growth initiatives.

A poll conducted by Napolitan News revealed that 61 percent of voters prioritize economic growth over reducing government spending, while only 28 percent expressed the opposite view.

Trump declared that beginning this past Friday, his administration would initiate the implementation of “reciprocal” tariffs on nations that have not finalized a tentative trade agreement with the U.S., with some of the newly introduced tariffs potentially reaching as high as “60 or 70%.”

“We will commence sending letters to various countries starting [Friday]. We anticipate dispatching around 10 or 12 letters,” the president informed reporters shortly after midnight upon his return from a speech at the Iowa State Fairgrounds, as reported by the New York Post.

“I believe that by the 9th [of July], they will be entirely addressed, and the tariffs will vary in value from approximately 60 or 70% to 10 and 20%,” he further stated.

The elevated rates indicate that Trump may increase tariffs on specific countries beyond the levels specified in his April 2 “Liberation Day” announcement, which established a new baseline tariff of 10%—roughly three times the previous rate—and imposed significant duties on nations with considerable trade imbalances with the U.S.

The highest previously declared “reciprocal” tariffs—linked to each country’s trade deficit with the U.S.—were 49% for Cambodia, a key producer of clothing and footwear; 48% for neighboring Laos; and 47% for Madagascar, the leading global exporter of vanilla.

“We have finalized the form, and it will essentially outline what the countries will be required to pay in tariffs,” Trump informed reporters early on Friday.

“It represents a substantial amount of money for the country, but we are offering them a deal. … I do not wish to overextend it; we aim to keep it quite reasonable,” he remarked, according to The Post. Trump indicated that he anticipated sending up to a dozen letters to countries each day until the Wednesday deadline he established for negotiations.

“As we approach the smaller countries, we will largely maintain the tariffs at the same level,” he noted. “They will begin to incur charges on Aug. 1. The funds will start to flow into the United States on Aug. 1 in nearly all instances.”