Group 1 - The core viewpoint of S&P Global Ratings is that the tariffs imposed by President Trump may help maintain U.S. fiscal health despite criticisms from mainstream economists [1] - S&P confirmed the U.S. long-term credit rating at AA+ and short-term rating at A-1+, with a stable outlook, partly due to expected tariff revenues offsetting the impact of recent tax and spending legislation [1][2] - The report indicates that significant tariff revenues are anticipated to counterbalance potential fiscal weaknesses arising from recent legislation, with July tariff revenues reaching a record high of $28 billion [2] Group 2 - There is ongoing debate among economists regarding the sustainability of tariff revenues, as Trump's policies aim to bring production back to the U.S., which could reduce future tariff income [2] - The Congressional Budget Office (CBO) estimates that recent budget legislation will increase the deficit by $3.4 trillion over the next decade, despite rising tariff revenues [2] - S&P's stable outlook suggests that while U.S. fiscal deficits may not significantly improve, they also will not worsen substantially in the coming years, with projected government net debt exceeding GDP by over 100% [3]