(The Center Square) – Government revenue exceeded government spending in the month of June due to increased revenue from tariffs, according to the Department of the Treasury.

The department’s monthly report, released Friday, showed that the federal government collected $526 billion in revenue and posted $499 billion in outlets, resulting in a $27 billion surplus. That $27 billion surplus is the exact amount of revenue collected from tariffs.

Additionally, gas prices are at a four-year low and grocery prices remained steady during June, easing fears that tariffs would spike prices and spelling good news for the economy.

“The tariff panic and inflation fearmongering from Democrats and their friends in the media hasn’t held up,” Treasury Secretary Scott Bessent posted on social media. “[I]mported goods prices are down this year, falling even faster than overall goods prices.”

Since the beginning of 2025, the U.S. government has collected $108 billion in tariff revenues. Bessent has predicted that number will rise to at least $300 billion by the end of the year.

Most recently, President Donald Trump announced a 50% tariff on imports from Brazil and tariffs ranging from 25% to 40% on more than a dozen other countries, including U.S. allies.

Trump’s aggressive and often unpredictable tariff policy has garnered condemnation from those worried he will damage relationships with allies, while fiscal watchdogs have praised his policies as a way to tackle America’s soaring deficit.

Republicans in Congress are also hopeful that continued tariffs will help offset the cost of the president’s multitrillion-dollar “big, beautiful bill,” which permanently extends the bulk of the 2017 Tax Cuts and Jobs Act, among other policies.