US Government to Begin Refund of $166 Billion in Tariffs Imposed During Trump Administration

On April 20, following a Supreme Court ruling that deemed the tariff policy illegal, the US government will initiate a refund process starting April 20. Businesses can submit applications through a new customs system to reclaim tariffs that were previously collected under emergency powers. The court determined that only Congress has the authority to impose tariffs, forcing the government to revoke this policy. It is estimated that over 330,000 importers, covering 53 million batches of goods, may be eligible for refunds. Once applications are approved, refunds and corresponding interest will be processed within 60 to 90 days, although the review period for complex cases may take longer. Relevant officials have warned that this refund process is large in scale and quite complex, but the funds will be paid directly to the businesses that originally bore the tariff costs.