U.S. tariff revenue surged 130% year-on-year to $16 billion in April

US Treasury data showed that tariff revenue in April reached $16 billion, a jump of $9 billion from the same period last year, an increase of 130%. This is the highest monthly tariff revenue in at least a decade, according to data compiled by Bloomberg. The surge in tariff revenue helps to contain further expansion of the US budget deficit. However, US President Donald Trump is seeking trade deals with specific countries, and tariff revenue may decrease in the future. The US federal government recorded a deficit of $1.05 trillion in the first seven months of this fiscal year, which was 13% larger than the same period last year after adjusting for calendar year differences. Excluding the deferred tax factor that drove up revenue in fiscal 2024, the actual deficit increase in fiscal 2025 was 4%, Treasury officials said. In addition to tariffs, another revenue category that has grown this fiscal year is the consumption tax, which has increased by $10 billion in the past seven months. Treasury officials said this was mainly due to the new share repurchase tax.