First round of tariff refunds to begin May 12: CBP
The U.S. Customs and Border Protection announced that the first round of tariff refunds will begin on May 12, following a Supreme Court decision striking down President Trump's use of the International Emergency Economic Powers Act. As of April 26, over 75,000 businesses had applied for refunds through CBP's portal.
The U.S. Customs and Border Protection (CBP) announced that the first round of tariff refunds will begin on May 12. This follows the Supreme Court's decision in February to strike down President Trump's use of the International Emergency Economic Powers Act to implement import taxes. CBP opened a portal on April 20 to process tariff refunds, and as of April 26, over 75,000 businesses had applied. More than 47,000 claims were determined to have been properly filed, and around 1.7 million tariff payments were in the process of being refunded. The refunds will go directly to companies that imported the tariffed goods. A total of $166 billion had been collected through tariffs by the time of the Supreme Court's decision.
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