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US refunds about $100bn of Trump tariffs after court ruling
The refund covers roughly 60% of the $165bn in “liberation day” tariff collections, after the Supreme Court struck down parts of the levies as illegal.
The Trump administration has refunded about $100bn from the tariffs it collected before the US Supreme Court ruled parts of the “liberation day” levies unlawful, according to the Financial Times as cited in Guardian Business.
The amount represents about 60% of the $165bn total collected under the tariffs, with customs officials reporting the figure to the US Court of International Trade (CIT) on Tuesday, the reports said.
Tariffs, which are taxes on imported goods, have been a key part of Trump’s economic plan since he returned to office, and the policy has contributed to federal revenue, even as the Supreme Court ordered refunds for companies that paid the struck-down portion.
Separate developments also point to ongoing legal and trade pressure, with a coalition of 25 US states suing the administration over new tariff actions and seeking to halt them, declare them unlawful, and order refunds of duties already paid.