No, we're still not tired of winning yet. The numbers are in, and we learned on Monday that April's income from customs duties - mostly tariffs - is breaking records, topping $16 billion. That is, as someone once said, a big freaking deal.

Receipts from U.S. tariffs hit a record level in April as revenue from President Donald Trump’s trade war started kicking in.

Customs duties totaled $16.3 billion for the month, some 86% above the $8.75 billion collected during March and more than double the $7.1 billion a year ago, the Treasury Department reported Monday.

That brought the year-to-date total for the duties up to $63.3 billion and more than 18% ahead of the same period in 2024. Trump instituted 10% across-the-board tariffs on U.S. imports starting April 2, which came on top of other select duties he had leveled previously.

Note that these numbers came in before any of the raised tariffs on several nations, most notably, China, and long before the China trade deal, details of which we only learned earlier on Monday. This won't bail the United States out of our deficit and debt issues, but it's at least making a dent. A far bigger dent than the feckless and incompetent Biden administration managed.

While the U.S. is still running a massive budget deficit, the influx in tariffs helped shave some of the imbalance for April, a month in which the Treasury generally runs a surplus because of the income tax filing deadline hitting mid-month.

The surplus totaled $258.4 billion for the month, up 23% from the same period a year ago. That cut the fiscal year-to-date total to $1.05 trillion, which is still 13% higher than a year ago.

Also on an annual basis, receipts rose 10% in April from 2024, while outlays declined 4%. Year to date, receipts are up 5%, while expenditures have risen 9%.

This isn't the prettiest picture, but it's a start.

It remains to be seen what effect all the various trade deals will have; since this data's timeline, the Trump administration has made trade deals with the United Kingdom in addition to China. If those deals go through, they may reduce the tariff money stream, but we can expect trade to make up for some or all of that.

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Government spending, of course, remains the elephant in the room. The Department of Government Efficiency - the DOGE - has been doing some benchmark work, but the spending crisis demands an axe, not a scalpel, for 37 trillion reasons. The Trump administration's plan appears to be to attempt to grow our way out of the national debt, and if that's going to be done, we have to not only have fair trade deals with the other nations of the world, but we also need to become once more a country that makes things. The other two options, inflating our way out of debt or just repudiating the debt, well, those don't merit too much consideration. Restoring our manufacturing base, becoming the industrial power we were, is the best way to deal with this.

Fortunately, the Trump administration is prioritizing that, as well.

You can view the entire Monthly Treasury Report, which includes the tariff income along with a lot of other interesting financial information, here.

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