Odaily News Tariff revenues in April reached $16 billion, up $9 billion, or 130%, from the same month last year, according to the U.S. Treasury Department. That’s the highest monthly tariff revenue in at least a decade, according to data compiled by Bloomberg. The surge in tariff revenues will help curb further expansion of the U.S. budget deficit. However, U.S. President Donald Trump is seeking trade deals with certain countries, which could reduce tariff revenues in the future. In the first seven months of this fiscal year, the federal government posted a deficit of $1.05 trillion, up 13% from the same period last year after adjusting for calendar year differences. Treasury officials said the deficit would actually increase by 4% in fiscal 2025 if deferred taxes that boost revenues in fiscal 2024 are excluded. In addition to tariffs, another revenue category that has grown this fiscal year is consumption taxes, which have increased by $10 billion in the past seven months. Treasury officials said that was largely due to a new stock buyback tax.