The U.S. posted a $95bn budget deficit in January, down 26% from a year earlier, as revenue growth outpaced spending increases, according to the Treasury Department. Receipts rose 9% to $560bn, while outlays increased 2% to $655bn. Higher customs duties driven by President Donald Trump’s tariffs significantly boosted revenues, with January net customs receipts reaching $27.7bn compared with $7.3bn a year earlier. For the first four months of the fiscal year, the deficit fell 17% to $697bn, as year-to-date revenues climbed 12% while spending rose 2%.
