Trump admin to begin refunding $166B to businesses in wake of Supreme Court decision
Companies can begin filing claims through a new federal system
By Bradford Betz FOXBusiness
Businesses can begin filing for tariff refunds on Monday as the federal government starts unwinding billions of dollars in import duties imposed by the Trump administration under emergency powers, opening the door to what could be one of the largest repayments to importers in U.S. history.
At 8 p.m. ET on April 20, U.S. Customs and Border Protection (CBP) will launch the first phase of a new claims system that will allow importers to seek repayment of tariffs collected under the International Emergency Economic Powers Act (IEEPA), following a series of court rulings that invalidated the policy.
The Supreme Court ruled in February that the law President Donald Trump relied on for his signature policy did not authorize the imposition of tariffs, finding that Congress – not the president – holds authority over such taxes. The decision set the stage for lower courts to order the government to reverse course and return the funds.
A judge at the U.S. Court of International Trade subsequently directed CBP to remove the tariffs from affected entries and refund any excess duties collected, along with interest.
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https://www.foxbusiness.com/economy/trump-admin-begin-refunding-166b-businesses-wake-supreme-court-decision
