The US tariff revenue soared to $28 billion in July, but it was unable to prevent the monthly deficit from approaching $300 billion.

According to the Wise Finance News app, US tariff revenue hit a monthly record high in July, but this growth failed to prevent the expansion of the monthly budget deficit, highlighting the ongoing fiscal challenges faced by the federal government. Data released by the US Treasury Department on Tuesday showed that tariff revenue last month climbed to $28 billion, a 273% surge from July last year. At the same time, after adjusting for calendar differences, the July monthly budget deficit was $291 billion, a 10% increase from the same period last year.