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US budget deficit climbs despite record income from Trump's tariffs

US budget deficit climbs despite record income from Trump's tariffs
nation8/12/2025

The U.S. has seen a record increase in tariff income, with a 273% rise in customs revenue from last year.

WASHINGTON (AP) — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday. The U.S. saw a... [3221 chars]