Tariff refund system for businesses scheduled for launch on Monday
Summary
The U.S. will start a new system on Monday that lets businesses ask for refunds after paying $166 billion in tariffs that the Supreme Court ruled were illegal. The refunds will be handled online by Customs and Border Protection, with most payments made electronically.Key Facts
- A tariff refund system for U.S. businesses will begin on Monday.
- Businesses can submit claims to get back money paid on certain tariffs.
- The Supreme Court found these tariffs to be illegal.
- The total amount paid by businesses in these tariffs is $166 billion.
- Customs and Border Protection will run the online refund system.
- Most refunds will be paid electronically through this system.
- Court documents describe how the refund process will work.
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