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News 2026-07-13 22:58 UTC

Tariff Refunds Push US June Budget Deficit to $120 Billion

() -- Growing refunds tied to President Donald Trump's tariffs, which were ruled illegal, pushed the June federal budget deficit to $120 billion, a sharp reversal from a $27 billion surplus in June 2025, the US Treasury Department said, Reuters reported Monday. The Treasury reported gross customs duty collections of $2