The U.S. Treasury Department reported collecting nearly $30 billion in tariff revenue last month, marking a 242% increase compared to the previous July. This surge in tariff income is attributed to new trade policies implemented under President Trump. Howard Lutnick, a financial commentator, indicated that tariff revenue could potentially reach between $600 billion and $1 trillion. In response to this revenue growth, President Trump is reportedly considering issuing rebate checks to American citizens as a way to share the economic benefits derived from these tariffs. Despite the influx of tariff funds, the U.S. budget deficit has widened by $109 billion compared to the previous year. Discussions continue regarding the allocation and impact of tariff revenues, including revenues from trade deals with Japan and the European Union, as well as tariffs on technology sales such as Nvidia's chip sales to China.