S&P Global Ratings affirmed the US credit rating: long-term - AA+, short-term - A-1+. The decision comes despite rising costs following the new One Big Beautiful Bill Act signed into law in July. The law consolidated tax breaks enacted back in 2017 and added new relief for businesses and households, Bloomberg writes.

S&P explained that the growth of revenues from increased duties can partially compensate for the losses of the US budget. In July, duty collections increased by $21 billion, but at the same time the budget deficit increased by almost 20% to $291 billion.

The outlook on the US rating remained stable. At the same time, S&P emphasized that the stability of U.S. finances will largely depend on the Fed's policy, which must simultaneously contain inflation and maintain the stability of markets, despite the pressure from President Donald Trump.

According to Fiona Lim, senior currency strategist at Malayan Banking, maintaining the rating could support the dollar. Earlier, Trump's bill on taxes and spending raised doubts about the ability of the US to control the debt. However, as the expert notes, the further dynamics of the U.S. currency will depend on the decisions of the Fed and the speech of its head Jerome Powell in Jackson Hole this week.

After his return to the White House, Trump unleashed a trade war: a basic tariff of 10% on all imports to the United States and increased duties for certain countries and goods were introduced, recalls Reuters. According to S&P forecasts, the state budget deficit in 2025-2028 will average 6% of GDP. This is down from the 2024 and 2020-2023 average deficits of 7.5% and nearly 10%, respectively.

At the same time, the U.S. has already lost its highest rating from all three leading agencies. The last to do so was Moody's in May, downgrading the rating from Aaa to Aa1 and citing the growing budget deficit, which shows no signs of abating. Fitch and S&P had earlier also downgraded from the top AAA level.

This article was AI-translated and verified by a human editor

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