The U.S. deficit fell slightly over the past year, thanks to record customs revenues generated by President Donald Trump’s all-out protectionist offensive. Between October 2024 and September 2025, the public deficit of the world’s largest economy decreased slightly, by 2%, to reach 1,775 billion dollars (-41 billion compared to 2024), the US Department of Finance announced on Thursday, October 16.
During the period, customs revenue, which includes customs duties, more than doubled (+142%), reaching $202 billion, a “record” according to the ministry. Since returning to power in January, President Donald Trump has dramatically increased tariffs on products entering the United States, generating greater resources.
The head of state stated that he wanted to return part of it to American farmers who are suffering from the tensions generated by this customs offensive: they no longer sell soybeans to Chinese buyers. According to the US Treasury, the federal government deficit would represent 5.9% of gross domestic product (GDP) in 2025, compared to 6.3% in 2024. This is an estimate since GDP figures for the period have not been published.
Source: BFM TV
