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U.S. deficit grows to $291 billion in July despite tariff revenue surge

U.S. deficit grows to $291 billion in July despite tariff revenue surge
business • 8/12/2025

The U.S. government's budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections.

The statue of former Treasury Secretary Albert Gallatin stands in front of the north wing of the U.S. Treasury Department headquarters building on April 24, 2025, in Washington, DC, U.S. The U.S. government's budget deficit grew nearly 20% in July to... [1818 chars]