The US deficit for July was reported at $291.1 billion (vs $215 billion expected), up from $243.7 billion in the same month a year ago.

• Total receipts were up 2.5% YoY to $338.5 billion and were more than offset by a 9.7% YoY increase in total outlays to $629.6 billion.
• Total customs duties collected were $27.7 billion in July, up slightly from $26.6 billion in June. So far in FY25, duties collected is up to $135.7 billion, more than double the $62.7 billion collected in the same period in FY24.