XPost: alt.sodomites.barack-obama, alt.fan.rush-limbaugh, talk.politics.guns   
   XPost: or.politics   
   From: enough.of.the@apes.usa   
      
   Summary   
   US Treasury reports small budget surplus for June   
   Gross customs duties reach $27 billion in June   
   Bessent says US 'reaping the rewards' of Trump's tariff agenda   
   Treasury chief says US tariff revenue could reach $300 billion in 2025   
      
   WASHINGTON, July 11 (Reuters) - U.S. customs duty collections surged again   
   in June as President Donald Trump's tariffs gained steam, topping $100   
   billion for the first time during a fiscal year and helping to produce a   
   surprise $27 billion budget surplus for the month, the Treasury Department   
   reported on Friday.   
      
   The budget data showed that tariffs are starting to build into a   
   significant revenue contributor for the federal government, with customs   
   duties in June hitting new records, quadrupling to $27.2 billion on a   
   gross basis and $26.6 billion on a net basis after refunds.   
      
   The Reuters Tariff Watch newsletter is your daily guide to the latest   
   global trade and tariff news. Sign up here.   
      
   The budget results are likely to reinforce Trump's view of tariffs as a   
   lucrative revenue source and as a hammer to enforce non-trade foreign   
   policy. He said on Tuesday that "the big money" would start to flow in   
   after he imposes higher "reciprocal" tariffs on U.S. trading partners on   
   August 1.   
      
   U.S. Treasury Secretary Scott Bessent said on X that the results show the   
   U.S. "reaping the rewards" from Trump's tariff 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!" Bessent said.   
      
   For the first nine months of fiscal 2025, the customs take reached records   
   of $113.3 billion on a gross basis and $108 billion on a net basis, nearly   
   double the prior-year collections. The government's fiscal year ends on   
   Sept. 30.   
      
   Based on those results, tariffs have now grown into the fourth-largest   
   revenue source for the federal government, behind individual withheld   
   receipts at $2.683 trillion for the fiscal year, non-withheld individual   
   receipts at $965 billion and corporate taxes at $392 billion.   
      
   In the space of roughly four months, tariffs as a share of federal revenue   
   have more than doubled to around 5% from about 2% historically.   
      
   https://www.reuters.com/business/trumps-tariff-collections-expected-grow-   
   june-us-budget-data-2025-07-11/   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)