The federal government ran a $27 billion surplus in June, and every penny of it came from tariffs, marking the first time this has happened in modern history and chalking up another victory for President Donald Trump’s economic policies.

According to new numbers released Friday by the Treasury Department, revenue for the month totaled $526 billion while spending came in at $499 billion. The $27 billion difference lines up exactly with what the government pulled in from tariffs alone, The Center Square reported.

Gas prices also hit a four-year low, and grocery costs stayed flat throughout June, easing fears that tariffs would drive prices up. Instead, the data is pointing in the opposite direction.

“The tariff panic and inflation fearmongering from Democrats and their friends in the media hasn’t held up,” Treasury Secretary Scott Bessent said on social media. “[I]mported goods prices are down this year, falling even faster than overall goods prices.”

So far this year, the government has taken in $108 billion from tariffs, and Bessent says that number could hit $300 billion by year’s end.

Trump recently slapped a 50 percent tariff on imports from Brazil and added tariffs of 25 percent to 40 percent on products from more than a dozen other nations, including U.S. allies.

Critics warn that the aggressive trade policy could strain international relationships. But fiscal conservatives and deficit hawks are praising the move, saying it’s a bold way to bring in revenue without raising taxes.