According to Reuters, the U.S. government posted a $258 billion budget surplus for April, up 23% from a year earlier. The Treasury Department said on Monday that this was due to strong tax receipts in the final month of the tax season and surging import duty collections.
Treasury reported that net customs duties in April totaled $16 billion, about a $9 billion increase from the year-earlier period. The increase occurred during a month when President Donald Trump boosted tariffs on Chinese goods to as much as 145% while slapping at least 10% on imports from other countries.
The budget results indicate the U.S. collected just over $500 million daily from tariffs in April. Last month, Trump said the collections were about $2 billion a day.
It will drop since the US and China reduced their tariffs.
The US faces an existential threat of economic collapse due to the debt and deficit. The interest rate is exploding.
President Trump is doing everything he can to save us from our wild spending sprees of the last several years.
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