U.S. tariff refunds surged to nearly $50 billion in June, outpacing new revenue

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

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According to its monthly budget statement, the U.S. Treasury took in $23.6 billion in gross customs duties in June while paying out $49.2 billion in refunds, leaving a net customs shortfall of about $25.6 billion. That payout was more than twice the approximately $22 billion disbursed the previous month, when refunds and collections were close enough to nearly cancel each other out, leaving a net outflow of just $42 million.

The June figures reflect the accelerating pace of repayments flowing from the........

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