US opens refund portal to start paying back Trump's illegal tariffs
Summary
The U.S. government has opened an online system to let importers and customs brokers request refunds for tariffs that President Trump imposed under the International Emergency Economic Powers Act (IEEPA), which the Supreme Court ruled were illegal. While importers can seek refunds, consumers who paid higher prices due to these tariffs may not receive any money back.Key Facts
- The U.S. Customs and Border Protection (CBP) launched the Consolidated Administration and Processing of Entries (CAPE) portal for IEEPA tariff refunds.
- Over 330,000 importers paid a total of $166 billion in these tariffs before they were ruled illegal.
- Refunds will mainly go to importers and customs brokers, not necessarily to consumers.
- The refund process is expected to take 60 to 90 days after submitting claims, but delays and technical issues may occur.
- The current refund phase covers about 63% of tariff entries and focuses on certain recent or unpaid claims.
- The government is studying ways to possibly reduce the total refund amount.
- President Trump imposed a new 10 percent tariff under a different law (the Trade Act of 1974) after the court ruling.
- More than 56,000 importers have completed the initial steps required to get their refunds through the new portal.
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