Shipping containers will be found at Oakland Port as trade tensions continued with China in Oakland on May 12, 2025.
Carlos Barrier | Reuters
Receipts from US tariffs reached record levels in April as President Donald Trump’s revenues began from trade war.
The tariffs totaled $16.3 billion for the month, roughly 86% above the $8.75 billion collected during March, more than doubled the $7.1 billion a year ago, the Treasury Department reported Monday.
This provided an annual total of over 18% of duties, up to $63.3 billion over the same period in 2024.
The US still has a massive budget deficit, but the tariff influx helped shave some of the April imbalance.
The surplus totaled $258.4 billion for the month, up 23% from the same period last year. This reduced the total fiscal year total to $1.05 trillion, 13% higher than a year ago.
Also, each year, receipts rose 10% from April to 2024, while spending fell 4%. Up until the year, receipts have increased by 5% and spending has risen by 9%.
High interest rates still bring about budgetary burdens. Net interest on national debt of $36.2 trillion totaled $89 billion in April, higher than all other categories except Social Security. In the fiscal year, net interest reached $57.9 billion.
