In April 2025, the U.S. Treasury reported a budget surplus of $258 billion, representing a 23% rise compared to the same month the previous year. The surplus increased due to strong tax receipts at the end of the tax season and heightened import duties amid President Donald Trump’s raised tariffs on Chinese goods.
Net customs duties amounted to $16 billion in April, pushing collections to $63 billion over the initial seven months of fiscal year 2025, an increase from $48 billion during the same timeframe last year.
Treasury reported fiscal year-to-date receipts at a record $3.110 trillion and outlays at $4.159 trillion, with a $1.049 trillion deficit up 23% year-over-year.
Recent tariff-easing deals between the U.S. and China could reduce new revenue, even though the budget surplus indicates a temporary fiscal improvement.
