S&P Global Ratings on Monday affirmed the United States’ AA+ long-term and A-1+ short-term sovereign credit ratings and kept the outlook at “stable.” The agency said revenue generated by President Donald Trump’s broad tariff programme—including a baseline 10 % levy on all imports—should largely offset the fiscal costs of the ‘One Big Beautiful Bill Act,’ a July law that made earlier tax cuts permanent while expanding federal spending. S&P projects the general government deficit will average 6 % of gross domestic product between 2025 and 2028, down from 7.5 % in 2024, even as net public debt surpasses 100 % of GDP within three years. Customs-duty receipts jumped by about $21 billion in July, although the monthly budget gap still widened nearly 20 % to $291 billion. The decision leaves the United States one notch below the top rating at S&P, matching Fitch and Moody’s Aa1 grade after Moody’s downgrade in May. The dollar held steady in early Tuesday trading following the announcement.