The U.S. budget deficit for August decreased by $35 billion or 9% compared to the same month last year, totaling $345 billion, the Treasury Department reported Thursday.
The improvement came as President Donald Trump’s tariffs significantly boosted net customs receipts, which reached a record $29.5 billion for the month - a substantial increase from $7 billion in August 2024.
Overall government receipts for August rose by $38 billion or 12% to $344 billion, while outlays increased by $2 billion to $689 billion. Both figures represented new records for the month.
Despite the August improvement, the fiscal year 2025 deficit has grown by $76 billion or 4% to $1.973 trillion with just one month remaining in the fiscal year.
The record customs receipts of $29.5 billion for August represented an increase of approximately $22.5 billion compared to the same period last year, directly attributable to the tariff policies implemented under the Trump administration.
Source :
https://www.investing.com/news/economy-news/us-august-budget-deficit-falls-9-as-trump-tariffs-boost-customs-receipts-4235905
