The U.S. Treasury reported a $27 billion budget surplus for June 2025, credited to a sharp jump in tariff revenue. This windfall raises questions about the long-term viability of tariffs and their implications for a limited-government, pro-growth agenda.
The Treasury brought in $526 billion in revenue and spent $499 billion, leaving a net surplus of $27 billion. Customs duties alone accounted for the full surplus, marking an astonishing $27 billion haul just from tariffs. Since January, tariff receipts have topped $108 billion, signaling sustained strength in this revenue stream.
The surplus also strengthens ongoing administration efforts to renegotiate trade arrangements. Treasury Secretary Scott Bessent has secured revised agreements with the U.K. and Vietnam, also citing tariff revenues as leverage.
According to Treasury data, June marked the first monthly federal budget surplus since June 2017. The $27 billion surplus was driven entirely by a surge in customs duties, which totaled $27.2 billion for the month, more than four times the level recorded in June 2024.
These duties stem largely from tariffs imposed on imports from China and other nations with significant trade imbalances. The data highlights the continued fiscal impact of President Trump’s trade policies, which have generated substantial revenue without increasing domestic taxes. This surplus underscores how targeted tariffs can significantly affect federal finances when enforced consistently.
