Thanks to tariffs, the Treasury achieved its first June with a fiscal surplus since 2016

The Treasury Department achieved a fiscal surplus for the first time since 2016. In other words, the Federal Government took in more than it spent during the month of June, even taking into account debt interest. This fiscal result was driven by the revenue generated by the tariffs implemented by the Trump Administration.

According to data from the Treasury Monthly Report, revenues were $526 billion, while expenditures amounted to $499 billion, leaving a positive result of $27 billion. Indeed, the report details that customs tariffs were responsible for generating the surplus. Compared to June 2024, these revenues increased by 301%.

Treasury Secretary Scott Bessent celebrated the results on his X account: "Another promise made. Another promise kept.Our nation is reaping the rewards from POTUS ’s America First agenda." "As President Trump works hard to take back our nation’s economic sovereignty, today’s Monthly Treasury Statement is demonstrating record customs duties – and with no inflation!", he added.

While the Federal Government also posted a financial surplus in April, it is a month that usually turns positive due to Tax Day, when citizens are required to pay income tax. In contrast, this is the first time the Treasury has recorded a positive June since 2016.

Unlike what is known as primary surplus, which does not include debt interest, this one achieved a positive difference between revenues and expenditures, even taking into account the debt interest payment, which was 84 billion.

"A 13% increase in receipts from the same month a year ago helped bridge the gap, with outlays down 7%. For the year, receipts are up 7% while spending has risen 6%," they noted from CNBC.

During this fiscal year, customs collections reached record figures of $108 billion net, almost double that of 2024. Thus, tariffs became the fourth largest source of revenue for the Federal Government, at least so far this 2025.