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U.S. Posts $258 Billion April Budget Surplus as Tariff Revenue Hits Record

Strong tax filings and $16 billion in customs duties drove the surplus, though a temporary U.S.-China tariff rollback is set to reduce future receipts.

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

  • The U.S. government recorded a $258 billion budget surplus in April 2025, a 23% increase from the same month last year, according to the Treasury Department.
  • Customs duties reached a record $16 billion in April, largely due to tariffs of up to 145% on Chinese goods and at least 10% on other imports implemented earlier this year.
  • Despite April's surplus, the fiscal year-to-date deficit stands at $1.049 trillion, 23% higher than the same period in 2024, driven by rising entitlement spending and interest on the national debt.
  • A recent 90-day U.S.-China agreement will temporarily reduce tariffs, with U.S. duties on Chinese goods dropping from 145% to 30%, and China's tariffs on U.S. imports falling from 125% to 10%.
  • April's surplus reflects seasonal tax inflows from the filing deadline and elevated tariff revenues, but Treasury projects reduced customs collections under the easing agreement.