U.S. Tariff Revenue Hits Record in April, Budget Surplus Reaches Second Highest in History

According to the latest data from the U.S. Treasury Department, the federal government recorded a budget surplus of $258 billion in April, the second-largest surplus on record, representing a 23% year-on-year increase. The surplus was mainly driven by strong tax revenue during the tax season and record-breaking import tariff income. In April, total tariffs amounted to $16 billion, an increase of approximately $9 billion compared to the same period last year, far exceeding the historical record of $9.6 billion two years ago, contributing over $500 million to the U.S. Treasury daily on average. Meanwhile, interest expenses on debt exceeded $100 billion for the second consecutive month. Despite the U.S. and China reaching an agreement to reduce tariffs by 115% within 90 days, the budget deficit for the first seven months of fiscal year 2025 still reached $1.049 trillion, a 23% year-on-year increase. (Jin10)