The US government collected a record-breaking $28 billion in tariff revenue last July, but this surge was not enough to bridge the widening monthly budget deficit. According to data released by the Treasury Department, customs duties reached a new high, increasing by 273% compared to the same period last year. Meanwhile, the monthly budget deficit widened by 10% to reach $291 billion, surpassing the previous year’s figure after accounting for calendar differences.
Source: https://www.bloomberg.com/news/articles/2025-08-12/us-july-tariff-revenue-jump-fails-to-halt-wider-budget-deficit