U.S. June Budget Deficit Widens To $120 Billion

The U.S. federal government recorded a budget deficit of $120 billion in June, reversing the surplus reported during the same month last year.

According to the U.S. Treasury Department, a sharp increase in tariff refunds, which exceeded customs duty collections, was a key factor behind the weaker fiscal result.

The report said the Treasury collected $23.6 billion in customs duties during the month but paid out $49.2 billion in tariff refunds, resulting in a net outflow.

According to the report, the adjusted June deficit rose 79 percent from a year earlier.

For the fiscal year to date, the federal deficit has reached $1.367 trillion, with both revenues and expenditures increasing compared with the same period last year.

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Tariff refunds push US June budget deficit to $120 billion https://t.co/Nqi6dxNq5Y https://t.co/Nqi6dxNq5Y

— Reuters (@Reuters) July 13, 2026

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tippinsightsTIPP Staff