The US has refunded $81 billion in tariffs after the Supreme Court ruled Trump's IEEPA levies illegal, deepening a $1.367 trillion deficit hole.

US June budget deficit hits $120B due to tariff refunds. Inflation at 3.8% in June priced at 48.9% YES.

The gap for the first nine months of fiscal 2026 came to US$1.37 trillion, Treasury Department data showed on July 13. Read more at straitstimes.com. Read more at straitstimes.com.