U.S. Tariff Revenue in April Soars 130% Year-on-Year to $16 Billion

According to data from the U.S. Treasury Department, tariff revenue in April reached $16 billion, a surge of $9 billion compared to the same period last year, marking an increase of 130%. Based on data compiled by Bloomberg, this sets a record for 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 to reach 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, which, after adjusting for calendar year differences, expanded by 13% compared to the same period last year. Treasury officials stated that excluding the deferred tax factors that boosted fiscal year 2024 revenue, the actual deficit increase for fiscal year 2025 is 4%. Besides tariffs, another revenue category that achieved growth this fiscal year is excise taxes, which have increased by $10 billion over the past seven months. Treasury officials indicated that this is mainly due to the newly imposed stock buyback tax.