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Trump administration launches nearly $100 billion tariff refund process
The US Customs and Border Protection (CBP) announced that approximately $100 billion in refunds for tariffs imposed during former President Donald Trump's term and later struck down by the Supreme Court have been approved and forwarded to the Treasury Department for payment.
A major refund process has begun in the US for tariffs imposed during former President Donald Trump's term and later struck down by a court ruling. The US Customs and Border Protection (CBP) announced that internal approvals for approximately $100 billion in refunds have been completed and forwarded to the Treasury Department for payment.
The refund process gained momentum after thousands of companies filed lawsuits. According to data submitted by CBP to the US Court of International Trade, as of July 31, importers and customs brokers had submitted 252,496 declarations to the system requesting refunds. The total amount of potential and approved refunds processed, including interest, reached approximately $128.68 billion.
Approvals have been granted for about $100 billion of this amount, and the payment phase has begun. CBP had launched a special system in April to calculate and process the refunds.
The US Supreme Court had invalidated the legal basis for tariffs imposed by Trump under the International Emergency Economic Powers Act (IEEPA) on February 20. The court ruled that IEEPA does not grant the president authority to impose tariffs. Following this decision, companies seeking to recover the duties they paid filed lawsuits against the US government.
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