The goods trade deficit in May was $96 billion, in June $85 billion.
The only thing that's changed is consumers are now being taxed on those trade deficits. The numbskulls of the GOP U. S. Senate are proposing rebates of these taxes to the people paying them.
It's all completely ludicrous.
It would have been easier simply not to have imposed the taxes in the first place.
If there's a way to lower the standard of living of American consumers, Mad King Ludwig is sure to find it.
... The Treasury Department reported an unexpected surplus
for June, with a boost from tariff revenue. Customs duties totaled
roughly $27 billion for the month, compared to $23 billion in May. The
duties reflect a 301% gain from June 2024. ...
