美国关税收入创新高，财政赤字仍难缓解

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新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

基础金属

铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁

稀有金属

稀土稀土矿稀土氧化物稀土金属钕铁硼 稀散金属锑铋铟锗镓硒钽锆 贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒

新能源

锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰 锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

美国关税收入创新高，财政赤字仍难缓解

2025-08-13 17:58:54 来源：北方有色网责任编辑：王欣悦

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美国财政部发布的数据显示，美国7月海关关税收入攀升至280亿美元，同比大幅增长273%，创下月度新高。然而，扣除日历差异因素后，当月财政赤字仍达2910亿美元，较去年同期增长10%。美国7月关税收入创下单月新高，但这一增长仍未能阻止当月财政赤字的扩大，美国政府仍面临持续的财政挑战。

随着本财年将于9月结束，美国正面临又一个巨额年度赤字。截至2025财年7月，过去十个月的预算赤字累计超过1.6万亿美元，经日历调整并剔除2024年收到的递延税款影响后，较上年同期收窄4%。此前美国财长贝森特曾预计2025年全年关税收入可能达到3000亿美元，并表示2026年“有机会更高”。但经济学家普遍认为，包括公共债务利息和福利支出在内的结构性压力，仍是决定美国财政前景的关键因素。

关税与赤字的鲜明对比

7月份的财政数据呈现出鲜明的对比。一方面，关税收入创下月度新高，显示出贸易政策对政府收入的直接影响。本财年迄今为止，关税总收入已达到1420亿美元。关税收入的显著增长曾在6月份帮助美国政府实现了270亿美元的月度盈余，这是自2015年以来首次在6月份实现财政盈余。

另一方面，高达2910亿美元的月度赤字表明，单一收入来源的激增难以扭转整体局面。这也创下了美国历史上7月单月赤字的第二高纪录，仅次于疫情暴发后、财政支出陡增的2021年。从累计数据看，2025财年前十个月1.629万亿美元的赤字，意味着2025财年或成为继疫情期间的2020和2021财年之后，美国历史上财政赤字第三严重的年份。

飙升的利息成本成为主要拖累

美国财政最严峻的挑战之一是持续攀升的债务利息。七月份，美国政府仅利息支出就高达919亿美元。这使得本财年前十个月的累计利息支出达到创纪录的1.019万亿美元，并有望在整个财年超过1.2万亿美元。数据显示，目前美国国债利息总额已成为政府第二大支出类别，远超国防、收入保障和医疗健康支出，仅次于社会保障，其对财政的长期拖累正变得愈发沉重。

此外，据多数经济学家和无党派的美国国会预算办公室(CBO)预计，特朗普总统上月签署的税收与支出法案，将在未来十年内进一步加剧美国的财政赤字。美国政府长期奉行高支出、低税收的政策，是导致其财政赤字和公共债务持续扩张的根本原因。据美国“负责任联邦预算委员会”(CommitteeforaResponsibleFederalBudget)的测算，2001年以来，高财政支出、低税收收入、全球金融危机和新冠疫情引发财政开支扩张等三个因素，分别解释了33%、37%和28%的美国公共债务规模增长，其中约77%的美国公共债务增长份额是由民主、共和两党共同支持的立法所引起。

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美国关税收入创新高，财政赤字仍难缓解

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