Tariff Turnaround: Treasury Department Posts Stunning June Numbers
Americans who aren’t used to seeing the words “government” and “surplus” in the same sentence are in for a surprise.
The federal government ran at a surplus in June, according to the Treasury Department, meaning money coming in surpassed money going out.
And it was largely money coming in from President Donald Trump’s tariffs that made the difference, according to news reports.
NEW: Tariff revenues grew to a record $27.2 billion in June — producing a $27 billion federal budget SURPLUS for the month. pic.twitter.com/X2jJzb2GPS
— Rapid Response 47 (@RapidResponse47) July 11, 2025
According to CNBC, tariffs collected on goods imported into the country for sale totaled $27 billion for the month, up from $23 billion in May, and a whopping 301 percent more than the figure from June 2024, when President Joe Biden was in office.
In that month a year ago, the government ran a $71 billion deficit, CNBC reported.
Completing the turnaround, the June 2025 surplus number compared to a deficit in May of $316 billion, according to CNBC. (The deficit in May 2024 was even higher, $347 billion, Reuters reported at the time.)
According to the Treasury Department report, tariffs, recorded as “Customs duties,” were still a small part of the government’s revenue.
With the government’s largest revenue streams — including individual and corporate income taxes — making up $236 billion of the month’s revenues, Social Security and retirement taxes combining for $487 billion in government revenue for the month, the $27 billion in tariffs is comparatively small.
But the difference is substantial, since, according to the financial news website Investing.com, analysts “had expected a deficit of $41.5 billion.”
As CNBC put it: “Increasing tariff collections are helping shore up the government finances.”
In other words, that $27 billion made the difference. And it wouldn’t have happened without Trump’s determination.
And social media users were paying attention:
BREAKING: US Treasury SHOCKINGLY runs a SURPLUS in June 2025, per CNBC
+$27 BILLION, following -$316B in May…
…thanks to TARIFFS.
APOLOGIZE TO SCOTT BESSENT and PRESIDENT TRUMP
“Increasing tariff collections are helping shore up the government finances.” pic.twitter.com/vNvW5H1M4e
— Eric Daugherty (@EricLDaugh) July 11, 2025
So we operated June as a country in a surplus? 27 billion in the black?
— Morgan (@RennyG1103) July 11, 2025
You mean tariffs work? SHOCKING!
— Tennessee Bourbon (@TennesseeBourbn) July 11, 2025
However good the June numbers look, they don’t mean the government is out of the red for the year. So far this fiscal year, the government is outspending its revenues by about $1.3 trillion, according to CNBC.
Still, a month in the black is a change for the better. The last time the government ran at a surplus was in June 2017, according to CNBC.
The government fiscal year ends Sept. 30.
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