Overview

• The Treasury recorded a $27 billion surplus in June, the first June surplus since 2017, as tariff receipts surged.
• Customs duties totaled $27 billion for the month, up from $23 billion in May and 301% higher than June 2024.
• Tariff collections have reached $113 billion over the past year, an 86% increase that has narrowed the fiscal year-to-date deficit by 1%.
• Treasury Secretary Scott Bessent projects that calendar-year tariff receipts could climb to $300 billion by December.
• Starting August 1, new reciprocal tariffs on copper and goods from Brazil and Canada will take effect alongside planned duties on semiconductors and pharmaceuticals.