Key Facts
• U.S. tariff revenue exceeded $100 billion in the 2024-2025 fiscal year.
• June 2025 tariff revenue reached a record $27 billion, with a cumulative $113 billion.
• June 2025 federal revenue increased by 13% year-over-year.
• June 2025 fiscal balance showed a $27 billion surplus, compared to a $71 billion deficit in June 2024.
• The first nine months of the fiscal year recorded a $1.34 trillion deficit.
• Adjusted cumulative deficit was 1% lower than the same period last year.
• Tariff increases under the Trump administration contributed to revenue growth.
• Treasury Secretary Bessent projected tariff revenue to exceed $300 billion by year-end.
Summary
The U.S. achieved a historic milestone in tariff revenue, surpassing $100 billion in the 2024-2025 fiscal year for the first time. June 2025 alone contributed a record $27 billion, bringing the cumulative total to $113 billion. Federal revenue for June increased by 13% compared to the previous year, while the fiscal balance showed a $27 billion surplus, a significant improvement from the $71 billion deficit in June 2024. The fiscal year’s first nine months recorded a $1.34 trillion deficit, with the adjusted cumulative deficit 1% lower than the prior year. The revenue surge is attributed to tariff hikes implemented during the Trump administration, aimed at boosting domestic production and addressing trade imbalances. Treasury Secretary Bessent anticipates tariff revenue to exceed $300 billion by the end of the year.
