The US government recorded a record $27 billion in customs duties revenue in June, contributing to a total of $113 billion in customs receipts for the fiscal year, the first time surpassing $100 billion on an annual basis. This increase is driven by higher tariffs imposed during the Trump administration, including new tariffs announced to begin on August 1, such as a 50% levy on copper imports from China and goods from Brazil, and a 35% tariff on Canadian goods. The Treasury Department reported a small surplus of over $27 billion in June, reversing a deficit from previous months, and bringing the fiscal year-to-date deficit to $1.34 trillion, a 5% increase from last year. Customs duties have increased fourfold compared to the previous year, totaling $113 billion on a gross basis, with an optimistic projection by Treasury Secretary Scott Bessent that tariff income could reach $300 billion by the end of 2025. The overall government revenue increased by 13% in June, partly due to tariff collections, while outlays decreased by 7%. Despite high interest payments on the national debt, the surplus in June reflects the impact of tariffs and calendar adjustments, with the government’s finances showing signs of improvement amid ongoing trade tensions and tariff hikes.