Qwik Pique The US government's budget deficit for July was up 19%, or US$47 Billion, from July 2024.

 U.S. Deficit grows to US$291 billion in July despite tariff revenue surge 

Reuters

4 hours ago

US deficit grows to $291 billion in July despite tariff revenue surge |

Published Wed, Aug 13, 2025 · 08:25 AM

THE US government’s budget deficit grew nearly 20% in July to US$291 billion despite a nearly US$21 billion jump in customs duty collections from President Donald Trump’s tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday.

The deficit for July was up 19%, or US$47 billion, from July 2024. 

• Receipts for the month grew 2%, or US$8 billion, to US$338 billion, while 
• outlays jumped 10%, or US$56 billion, to US$630 billion, a record high for the month.

The month of July this year had fewer business days than last year, so the Treasury Department said that adjusting for the difference would have increased receipts by about US$20 billion, resulting in a deficit of about US$271 billion.

Net customs receipts in July grew to about US$27.7 billion from about US$7.1 billion in the year-earlier period due to higher tariff rates imposed by Trump, a Treasury official said. These collections were largely in line with the increase in June customs receipts after steady growth since April.

CNBC

5 hours ago

U.S. deficit grows to $291 billion in July despite tariff revenue surge

US deficit grows to $291 billion in July despite tariff revenue surge

By David Lawder

August 12, 20254:10 PM PDT Updated 1 hour ago

Summary

• July US customs duties triple to nearly $21 billion from $7 bln a year earlier
• Fiscal year-to-date deficit tops $1.6 trillion
• Social Security, healthcare, debt interests costs continue to grow

Aug 12 (Reuters) - The U.S. government's budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections from President Donald Trump's tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday.

• The deficit for July was up 19%, or $47 billion, from July 2024. 
• Receipts for the month grew 2%, or $8 billion, to $338 billion, while 
• outlays jumped 10%, or $56 billion, to $630 billion, a record high for the month.

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