S&P Global on Monday affirmed its 'AA+' credit rating on the U.S., saying the revenue from President Donald Trump's tariffs will offset the fiscal hit from his recent tax-cut and spending bill.

S&P Global Ratings affirmed the U.S.'s AA+ credit rating—one notch from the top of its investment-grade scale—saying it doesn't expect "persistent deterioration" in fiscal deficits. The ratings company thinks changes in U.

S&P said it is maintaining the AA+ rating on the U.S. as it expects tariff revenue will shore up the nation's finances.