🇺🇸💼 Trump Announces China Trade Deal as Tariff Revenues Hit Record High

By USA NEWS TODAY| June 27, 2025

In a bold move that could reshape global trade, President Donald Trump has announced a formal trade agreement with China, while U.S. tariff revenues surge to historic highs in June.

Speaking from the White House on Thursday, Trump declared, “We just signed with China yesterday,” signaling the end of tense negotiations that have spanned months. While details remain under wraps, the announcement marks a major development in U.S.–China economic relations.

📈 June Tariff Revenues Break Records

Meanwhile, new data from the Treasury Department shows that customs revenue from tariffs reached over $26.7 billion this month — with more than $19.9 billion deposited in a single day. These numbers surpass May’s total of $22 billion, reflecting the ongoing impact of Trump’s aggressive tariff policy.

Commerce Secretary Howard Lutnick praised the windfall, tweeting that the “current run rate” could exceed $30 billion monthly, potentially helping reduce the federal deficit.

🔁 Tariffs as Leverage

Stephen Miran, Chair of the White House Council of Economic Advisers, told Yahoo Finance that the administration is likely to extend the current tariff pause for countries engaged in “good faith” trade negotiations. Countries like Canada and Japan are under pressure to finalize deals by the July 9 “Liberation Day 2.0” deadline.

Trump has threatened unilateral tariff decisions for countries not reaching deals. Some nations may receive better terms, while others face the return of steep tariffs.

🇬🇧🤝 UK Deal Secured, Others in Progress

The U.S. has already finalized a trade pact with the United Kingdom. However, Canada has threatened retaliatory tariffs on U.S. steel and aluminum. The European Union has also warned of strong countermeasures if the U.S. maintains a 10% baseline tariff.

Bloomberg reports that Trump's unpredictable trade strategies have left many countries hesitant to sign, unsure of how future tariffs on key materials might affect them.

📉 Economic Impacts and Political Push

At the same time, the White House is pushing its sweeping economic legislation, dubbed the “Big Beautiful Bill,” which includes tax reform and deficit reduction strategies tied to tariff revenues. The Congressional Budget Office projects that tariffs could cut the national deficit by $2.8 trillion over the next decade — if rates stay consistent.

However, economists and critics warn that the bill's math relies on "egregious budget gimmicks" and assumes overly optimistic growth.

Fed Chair Jerome Powell has remained cautious, waiting for clearer data on the long-term economic effects of the tariffs before adjusting interest rates.

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