Quartz·2 min read·hard
U.S. tariff refunds surged to nearly $50 billion in June, outpacing new revenue
✦AI Summary
The U.S. Treasury reported that tariff refunds reached nearly $50 billion in June, exceeding the total revenue collected from customs duties. This fiscal imbalance is linked to a recent Supreme Court ruling regarding trade tariffs.
The Treasury paid out more than twice what it collected in customs duties last month, deepening the fiscal cost of the Supreme Court's tariff ruling
economypolitics
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