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... U.S. customs duties climbed to a record in May, helping shrink the budget deficit for the month, while doubts remain about the persistence of the inflows as the Trump administration negotiates with trading partners and faces a judicial challenge over its levies.

The Treasury Department recorded $23 billion in customs-duties revenue for May, according to the agency's monthly budget statement. This represents a $17 billion, or 270%, increase from the same month a year earlier.

The fiscal deficit was $316 billion for May, down 17% from the same month a year before, after accounting for calendar-year differences. For the first eight months of the fiscal year, the deficit was $1.37 trillion. Taking account of revenue deferred from 2023 to 2024 and for the calendar differences, the year-to-date gap is 1% smaller, an agency official told reporters. ...