Now Reading: US refunds about $100 billion in Trump-era tariffs after court ruling
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US refunds about $100 billion in Trump-era tariffs after court ruling
US refunds about $100 billion in Trump-era tariffs after court ruling
The Trump administration has refunded about $100 billion in tariffs since the US Supreme Court struck down a wave of them earlier this year, court filings show, according to NDTV. The figure…
The Trump administration has refunded about $100 billion in tariffs since the US Supreme Court struck down a wave of them earlier this year, court filings show, according to NDTV. The figure is about 60 percent of the roughly $166 billion collected after Trump invoked the International Emergency Economic Powers Act to impose the duties, and the refunds went to the importers who had paid them.
A US Customs and Border Protection official said that, as of 31 July, about $128.68 billion in potential and certified refunds had been accepted for processing, of which roughly $100 billion had been completed and sent to the Treasury Department for disbursement. The Supreme Court ruled in February that Trump had exceeded his authority in using the emergency powers act for these tariffs, his separate sector-specific tariffs, which rely on different legal justification, remain in place.
Indian Opinion Analysis
The $100 billion figure comes directly from a Customs and Border Protection official's court filing, which gives it more weight than an anonymous estimate, but the report does not name which tariff lines or which importers received the money. The ruling only affects tariffs imposed under the emergency powers act, and Trump has since pursued new legal routes to reimpose similar tariffs on dozens of partners, sparking further court challenges that are now under way.
Source: www.ndtv.com
This brief was synthesised by AI from the source linked above.
