2025.09.1118:06:31UTC+00US Budget Gap Narrows in August on Record Customs Receipts

In August 2025, the United States government reported a budget deficit of $345 billion, reflecting a 9% decrease from the previous year, according to the Treasury Department. This improvement was primarily attributed to a notable increase in customs receipts, which surged by around $22.5 billion as a result of tariffs implemented by President Donald Trump. However, with the 2025 fiscal year nearing its end, the cumulative deficit for the year grew by $76 billion, or 4%, amounting to a total of $1.973 trillion. In August, government receipts increased by $38 billion, or 12%, reaching $344 billion, while expenditures rose by $2 billion to $689 billion, both setting new monthly records. Net customs receipts hit an all-time high of $29.5 billion in August, a significant rise from $7 billion the previous year, highlighting the revenue effects of the tariffs. Despite the improvement on a monthly basis, the overall fiscal health remains challenged by high levels of spending and an increasing year-to-date deficit.