During the first nine months of the fiscal year in the United States, the deficit increased by $64 billion, reaching $1.4 trillion, compared to just over $1.3 trillion in the previous year, an increase of 6%, according to Treasury data.
The rise in expenses, particularly in health programs for retirees and low-income Americans, such as Medicare and Medicaid, partially explains this growing deficit, reported the France-Presse agency (AFP).
Another factor is the increasing cost of U.S. debt, with the government paying over $920 billion in interest, setting a record.
On the revenue side, customs revenues rose from $61 billion in the previous year to $113 billion in the first three quarters of the current fiscal year.
This increase is explained by the substantial rise in tariff rates imposed on products entering the United States, which jumped from an average effective rate of 2.5% at the end of 2024 to 17.6% by July 1, 2025, according to data from Yale University’s Budget Lab.
In a cabinet meeting this week, Treasury Secretary Scott Bessent estimated that customs tariffs should have generated an additional $300 billion by the end of the year.
Overall, U.S. federal revenue increased by 7%, thanks to improved tax revenue, driven particularly by rising employment and wages.
However, corporate taxes fell, as companies opted to wait and see the conditions set in the financial law passed by Congress at the beginning of July.
