Trump administration tariff refund process following Supreme Court ruling
The developments in this story so far, most recent first.
-
· date approximate Development
Trump administration processes $100 billion in tariff refunds
-
· date approximate Background
The US Customs and Border Protection launched a special system to calculate and process tariff refunds.
In April, the US Customs and Border Protection (CBP) launched a special system designed to calculate and process tariff refunds.
This development followed a Supreme Court ruling on February 20, which determined that the International Emergency Economic Powers Act (IEEPA) does not grant the President the authority to impose tariffs.
-
· date approximate Background
The US Supreme Court ruled that the IEEPA does not grant the President authority to impose tariffs.
On February 20, the US Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the President the authority to impose tariffs. In a 6-3 decision, the Court found that the President acted beyond the authority of the US Congress to set taxes.
The ruling struck down tariffs that had been imposed under the 1977 law. Reports indicate that approximately $166 billion in total tariffs was collected through these measures, impacting over 330,000 importers across more than 53 million shipments.