The US government’s budget deficit widened by nearly 20% in July to $291 billion, driven by an increase in outlays exceeding the growth of receipts. The Treasury Department reported that outlays jumped 10%, or $56 billion, to a record high of $630 billion for the month, while receipts grew 2%, or $8 billion, to $338 billion.
Customs duty collections from President Trump’s tariffs showed a nearly $21 billion jump, but the impact on the deficit was limited due to outlays growing faster. Adjusting for fewer business days in July compared to last year, the actual deficit would be around $271 billion.
The 10-month period has seen customs duties totaling $135.7 billion, up 116% from the previous year. The overall budget results show a $1.629 trillion deficit, up 7%, or $112 billion, with outlays growing 7%, or $374 billion, to a record high for the period.
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Source: https://www.cnbc.com/2025/08/12/us-deficit-grows-to-291-billion-in-july-despite-tariff-revenue-surge.html