US Deficit Declines as Tariff Revenues Hit Record Highs
TL;DR Summary
The US experienced its third-largest fiscal deficit on record this year, despite a record surge in tariff revenue driven by Trump's tariff hikes, with August tariffs reaching $30 billion. The total deficit through August is nearly $2 trillion, but some improvement is expected by year's end. Corporate tax receipts declined in August, and the future of tariffs depends on a Supreme Court decision, which could significantly impact revenue.
- US Deficit Tracks Third-Highest Ever Even as Tariff Take Rises Bloomberg
- US August deficit falls to $345 billion as tariff revenues rise Reuters
- Tariffs revenue neared $30 billion this August — the first month of Trump’s full 'reciprocal' tariff regime Yahoo Finance
- Customs duties hit new record in August on tariff revenues The Hill
- The U.S. Government Is Spending Way More Than It’s Making The New Republic
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