Trump Admin Refunds $100 Billion in 'Liberation Day' Tariffs
The Trump administration has taken steps to effectively re-create the IEEPA tariff regime using other legal authorities. They already face court challenges.
TL;DR
- The Trump administration has refunded about $100 billion of tariff revenue.
- The tariffs were collected before being struck down by the Supreme Court.
- The Supreme Court ruled that IEEPA did not authorize these tariffs.
- A federal judge ordered that tariffs collected under IEEPA must be refunded.
- The administration is facing court challenges for its attempts to re-create the tariff regime using other legal authorities.
- A system called CAPE was implemented to track and deliver tariff refunds.
- As of July 31, nearly $129 billion in refunds have been accepted for processing, with approximately $100 billion completed.
- A lawsuit has been filed by an importer seeking class certification for smaller businesses facing barriers in getting refunds.