S&P Global has affirmed the U.S.’ ‘AA+’ credit rating, citing the revenue from tariffs as the reason for doing so, as they will offset the fiscal challenges introduced with the recent tax cut and spending bill, President Trump’s ‘One Big Beautiful Bill Act,’ which was signed into law in July.
S&P expects the U.S. outlook to remain stable as tariff revenue is expected to offset any deficits incurred from the introduction of the new legislation. For instance, the U.S. reported a $21 billion gain in customs duty in July, but experienced budget deficit growth of 20 percent, bringing the total to $291 billion. Peer Moody’s downgraded the U.S. sovereign debt rating in May because of rising debt.
