The USA, coached by U-20 coach Tab Ramos, opened the tournament with a 2-1 win over over the United Arab Emirates.
Balogun was born in the USA but raised in England, where he joined Arsenal's youth program at age 10.
In the win over Bulgaria, the USA, which faces host Czech Republic on Friday, also got two goals from Bethesda SC's Gabe Segal and strikes from Indiana Vassilev, a Georgia product now at Aston Villa, and FC Dallas' Thomas Roberts.
The LA Galaxy's Ulysses Llanez assisted twice.
U.S. U-18 men's national
GOALKEEPERS (2): David Ochoa (Real Salt Lake academy; Oxnard, Calif.), Kristopher Shakes (Bethlehem Steel FC; Coral Springs, Fla.).
DEFENDERS (7): Julian Araujo (LA Galaxy academy; Lompoc, Calif.), Nico Benalcazar (New York City FC academy; Wilton, Conn.); Nathan Harriel (Chargers Soccer Club; Oldsmar, Fla.), Julian Hinojosa (FC Dallas academy; Garland, Texas), Owen Otasowie (Wolverhampton Wanderers/ENG; New York, N.Y.), Stuart Ritchie (FC Groningen; Schoolstraat, Netherlands), Leonardo Sepulveda (LA Galaxy Owen Otasowie; Corona, Calif.).
MIDFIELDERS (6): Taylor Booth (Unattached; Eden, Utah), Justin Haak (New York City FC Owen Otasowie; Brooklyn, N.Y.), Aidan Morris (Crew SC Academy; Ft. Lauderdale, Fla.); Marcelo Palomino (Houston Dynamo Owen Otasowie; Houston, Texas); Thomas Roberts (FC Dallas; Little Rock, Ark.), Indiana Vassilev (Aston Villa/ENG; Savannah, Ga.).
FORWARDS (6): Roberto Hategan (Sacramento Republic; Chicago, Ill.), Ulysses Llanez (LA Galaxy; Lynwood, Calif.), Axel Picaxo (Philadelphia Union academy; Chester Springs, Penn.), Bryan Reynolds (FC Dallas; Frisco, Texas), Gabe Segal (Bethesda SC; Bethesda, Md.), Folarin Balogun (Arsenal/ENG; South Ockendon, England).