01:33
Sole survivor in air India crash, police say
Only one survivor among 242 in Air India crash in Ahmedabad, police say
U.S. budget deficit falls 9% in May as Trump tariffs boost customs revenue
Reuters
Reuters
The U.S. budget deficit narrowed to $316 billion in May, marking a 9% drop from last year, largely due to a surge in customs revenue driven by President Trump’s new tariffs.
The U.S. Treasury reported a $316 billion budget deficit for May, showing a 9% year-over-year decline, or $31 billion less than May 2024. The improvement was largely attributed to a sharp rise in customs duties, which nearly quadrupled to a record $23 billion, thanks to President Donald Trump’s expanded tariffs on imports. Compared to the same month last year, total receipts jumped 15% to $371 billion, while outlays increased modestly to $687 billion. Fiscal year-to-date customs revenue rose nearly 60%, reaching $86 billion.
Calendar shifts affected both years’ numbers due to June benefits being paid in May; after adjusting, the May 2025 deficit would be $219 billion — a 17% improvement from May 2024’s adjusted $263 billion. Notably, interest payments on public debt dropped 10% to $92 billion, marking the first decline since October.
01:20
Levon Mnatsakanyan confirms landmine placement in occupied territories
Statement of Levon Mnatsakanyan at Baku Military Court: Confirmation of Landmine Placement in Occupied Territories
00:30
CBO: “The great beautiful bill” could create unequal income growth
The U.S. Congressional Budget Office (CBO) has released its latest forecast on the budgetary and income distribution impacts of the tax reform bill dubbed “The Great Beautiful Bill,” approved on May 22 in the House of Representatives under President Donald Trump.
00:00
Mexican president Sheinbaum opposes U.S. migrant policy
Mexican President Claudia Sheinbaum has openly expressed her opposition to labeling migrant workers as criminals during a high-level meeting with U.S. Deputy Secretary of State Christopher Landau.
23:48
Trump: “We cannot leave our farmers struggling with labor shortages”
U.S. President Donald Trump has announced plans to issue a new executive order aimed at addressing labor shortages in the agriculture and tourism sectors, which have been affected by his administration’s stricter immigration policies.
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