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U.S. tariff revenue broke record in April, budget surplus hit second-highest on record

Internet reports that the latest data from the U.S. Treasury Department showed that the federal government's budget surplus in April reached US$258 billion, the second largest surplus on record, a year-on-year increase of 23%. The surplus was mainly due to strong tax revenue during the tax quarter and record import tariff revenue. The total amount of tariffs in April reached US$16 billion, an increase of about US$9 billion from the same period last year, far exceeding the historical record of US$9.6 billion two years ago, and contributing more than US$500 million to the U.S. treasury on average every day. At the same time, debt interest expenses exceeded US$100 billion for the second consecutive month. Although China and the United States have reached an agreement to reduce tariffs by 115% within 90 days, the budget deficit for the first seven months of fiscal year 2025 still reached US$1.049 trillion, a year-on-year increase of 23%. (Jin Shi)

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