Here's when businesses will start getting refunds for Trump's IEEPA tariffs
Summary
Businesses that paid tariffs under President Donald Trump’s International Emergency Economic Powers Act (IEEPA) will start receiving refunds as early as May 11. A new online system was launched to help companies request these refunds after the Supreme Court struck down the tariffs in February.Key Facts
- President Trump’s IEEPA tariffs were struck down by the Supreme Court in February.
- The U.S. government collected about $166 billion in tariffs that must now be refunded.
- A refund portal called CAPE was launched on April 20 for businesses to file refund requests.
- The portal experienced technical problems at first but is now mostly working well.
- Judge Richard Eaton oversees the refund process and expects the first payments by May 11.
- About 21% of refund requests have been accepted, with 3% already in the refund stage.
- Some small businesses reported difficulties accessing accounts and filing claims.
- The refunds will be paid from the U.S. Treasury Department through Customs and Border Protection.
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