Higgins Strategy

From Study X, Exhibit 8

Customs refunds reached $125.2 billion in FY2026 through August

Source. Treasury, Monthly Treasury Statement, Table 4 (Receipts of the United States Government), customs duties, via Fiscal Data. Monthly, March 2015 to August 2026.

Method and data

Method. Customs duties by month: gross receipts, refunds and net (gross less refunds), with net receipts for the fiscal year to date. FY2026 refunds through August are the August fiscal-year-to-date refund total, $125,224,590,881.64; FY2025 refunds, $7,491,734,828.79. Dollars to the cent are in the CSV.

MonthGross ($bn)Refunds ($bn)Net ($bn)Net, fiscal year to date ($bn)
March 20152.820.22.6317.42
April 20153.550.123.4320.85
May 20152.650.112.5523.39
June 20153.10.162.9426.33
July 20153.720.123.629.94
August 20152.991.091.9131.84
September 20153.440.243.235.04
October 20153.560.123.443.44
November 20153.020.132.896.32
December 20153.020.132.899.21
January 20163.190.143.0512.26
February 20162.720.182.5414.8
March 20163.020.142.8717.67
April 20162.990.22.820.47
May 20162.60.172.4322.9
June 20162.870.092.7825.68
July 20163.190.133.0628.74
August 20162.990.042.9531.69
September 20163.310.163.1534.84
October 20163.190.123.073.07
November 20163.070.172.95.97
December 20162.960.112.858.81
January 20173.130.172.9711.78
February 20172.640.152.4914.27
March 20172.780.122.6716.94
April 20173.10.093.0119.95
May 20172.620.192.4222.37
June 20172.990.112.8725.24
July 20173.310.123.1928.43
August 20173.130.182.9531.37
September 20173.330.133.234.58
October 20173.370.133.243.24
November 20173.240.143.16.34
December 20173.210.13.119.45
January 20183.320.143.1912.63
February 20182.810.142.6715.31
March 20183.270.183.0818.39
April 20183.460.013.4521.84
May 20183.160.192.9724.81
June 20183.620.113.5128.32
July 20184.250.094.1632.48
August 20184.630.384.2536.73
September 20184.770.24.5741.3
October 20185.830.285.555.55
November 20186.460.176.2811.84
December 20186.130.145.9917.83
January 20196.660.036.6324.46
February 20195.420.345.0829.53
March 20195.380.225.1634.69
April 20195.510.275.2439.93
May 20195.10.164.9344.87
June 20195.820.225.6150.47
July 20196.750.286.4756.94
August 20197.230.227.0163.95
September 20197.170.346.8370.78
October 20198.110.357.767.76
November 20197.390.456.9414.7
December 20196.930.496.4521.15
January 20207.270.356.9228.06
February 20206.690.416.2934.35
March 20205.40.594.8139.17
April 20204.710.64.1143.28
May 20204.460.633.8347.11
June 20205.310.834.4851.59
July 20205.90.885.0156.6
August 20206.530.645.962.5
September 20206.920.886.0568.55
October 20206.850.76.166.16
November 20206.780.825.9712.12
December 20206.710.666.0518.17
January 20216.440.575.8724.04
February 20216.80.476.3230.36
March 20216.90.626.2836.64
April 20217.730.67.1343.77
May 20216.980.546.4350.2
June 20217.690.547.1557.35
July 20217.930.427.5164.86
August 20217.80.537.2772.13
September 20218.350.497.8679.98
October 20218.380.617.777.77
November 20218.430.627.8215.59
December 20218.630.458.1923.77
January 20228.880.298.5932.36
February 20228.530.488.0540.41
March 20228.640.498.1548.56
April 20229.570.419.1657.72
May 20228.50.418.165.82
June 20228.990.628.3674.18
July 20229.030.58.5382.71
August 20229.130.688.4691.17
September 20229.370.638.7499.91
October 20228.690.538.168.16
November 20227.760.597.1715.33
December 20227.310.766.5521.89
January 20237.60.766.8428.72
February 20236.790.456.3535.07
March 20236.680.536.1541.23
April 20236.690.346.3547.58
May 20236.720.356.3753.95
June 20237.120.656.4860.42
July 20237.360.456.9167.33
August 20236.810.486.3373.66
September 20237.110.436.6880.34
October 20237.310.416.96.9
November 20236.70.46.313.2
December 20236.390.655.7418.94
January 20246.990.516.4825.42
February 20246.750.546.2131.63
March 20246.640.586.0637.69
April 20247.090.726.3744.06
May 20246.160.945.2249.28
June 20246.760.446.3255.61
July 20247.630.497.1362.74
August 20247.620.577.0569.79
September 20247.730.487.2577.04
October 20247.950.657.37.3
November 20247.370.666.7114.01
December 20247.390.576.8120.82
January 20257.880.547.3428.16
February 20257.680.437.2535.41
March 20258.750.588.1743.58
April 202516.30.6715.6359.21
May 202522.820.6522.1781.39
June 202527.150.5226.63108.02
July 202528.440.7727.67135.69
August 202530.130.6329.5165.19
September 202530.490.8229.67194.87
October 202533.091.7431.3531.35
November 202531.730.9830.7662.11
December 202529.331.4427.8990
January 202629.551.827.74117.74
February 202627.170.5826.59144.34
March 202624.021.8622.15166.49
April 202623.881.7522.12188.62
May 202621.9321.97−0.04188.57
June 202623.6349.18−25.56163.02
July 202624.8333.38−8.55154.47
August 202623.3810.5412.84167.31

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Higgins Strategy. “Customs refunds reached $125.2 billion in FY2026 through August” Exhibit 8, The Debt, the Waste and the Tax (Study X). October 12, 2026. https://higginsstrategy.com/charts/10-05-customs-duties-monthly-2015-2026/