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U.S. Posts Record $258 Billion Surplus in April as Tariff Revenues Surge

Customs duties hit $16.3 billion in April, but a new U.S.–China tariff reduction deal signals a likely drop in revenue in the months ahead.

A view of the U.S. Capitol building in Washington, U.S., April 4, 2025. REUTERS/Leah Millis/File Photo
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Overview

  • April's $258 billion budget surplus marked a 23% increase from the previous year, driven by strong tax filings and record customs duties.
  • Tariff collections reached $16.3 billion in April, an 86% jump from March and more than double the amount from April 2024.
  • President Trump raised tariffs on Chinese goods to as high as 145%, significantly boosting customs revenue before a recent agreement to reduce duties.
  • The U.S.–China deal over the weekend will temporarily lower U.S. tariffs to 30% and Chinese tariffs to 10% for 90 days, reducing future revenue from trade measures.
  • Despite the April surplus, the fiscal year-to-date deficit stands at $1.049 trillion, with rising interest payments on the $36.2 trillion national debt remaining a significant financial burden.