REUTERS/Lucy Nicholson
The federal government issued $49.2 billion in tariff refunds in June, the Treasury Department reported in its monthly statement released Monday.
The refunds issued surpassed the $23.6 billion in customs duties collected in June, resulting in a $25.6 billion deficit for the month. The Trump administration has reported that it collected $166 billion in tariffs that could be subject to reimbursement.
The tariff deficit contributed to an overall budget deficit of $120 billion for the month. The total deficit for the first nine months of the 2026 fiscal year, running from October 2025 to June 2026, came to nearly $1.4 trillion.