U.S. Tariff Net Revenues Hit Negative $25.6 Billion in June, Second Consecutive Month of Decline

According to the U.S. Treasury Department statement released on June 13, tariff net revenues for the Trump administration recorded negative $25.6 billion in June, the second consecutive month in the red following a Supreme Court ruling ordering refunds of previously collected reciprocal tariffs. In June, $23.63 billion in tariffs were collected, while $49.18 billion was paid out in refunds.

The U.S. Customs and Border Protection (CBP) launched the refund system on April 20 in response to the court decision, with total estimated refunds reaching approximately $166 billion. Tariff net revenues had remained comfortably above $20 billion through April before turning negative in May (negative $42 million).