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U.S. Tariff Refunds of $49.1 Billion Exceed June Revenue of $23.6 Billion
The Treasury Department reported $49.1 billion in tariff refunds paid out in June compared with $23.6 billion collected in revenue. The figures reflect the second month of accelerated payouts after the Supreme Court struck down the tariffs in February.
Jul 13, 5:12 PM·1m read1 source
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The U.S. Treasury Department sent out $49.1 billion in tariff refunds in June, surpassing the $23.6 billion collected in tariff revenue during the same month. The June results showed a net negative balance of $25.5 billion.
In May the department recorded $21.9 billion in both refunds and revenue, producing a net negative balance of $42 million. The Supreme Court invalidated President Trump's blanket tariffs on February 20. A government-run refund portal opened in late April, and the administration has expanded the list of eligible scenarios through the summer.
Up to $166 billion in tariffs plus interest remains potentially eligible for refunds. Monthly tariff revenue reached a peak of $31.35 billion in October 2025 and rose by about $1.7 billion in June from the prior month. The Treasury statement also showed a federal budget deficit of $1.4 trillion for the period from October 2025 through June 2026.
