Trump administration refunds $100 billion in tariffs struck down by US Supreme Court

The Trump administration has returned approximately $100 billion in tariffs following their invalidation by the US Supreme Court, according to court documents. By July 31, about 60 percent of the $166 billion collected under the tariffs had been refunded, as reported by the US Court of International Trade, according to Reuters. The refunds, which included interest, were paid to importers who had initially incurred the duties.

The tariffs were originally imposed by the Trump administration under the International Emergency Economic Powers Act (IEEPA), which he utilized to levy substantial duties on goods originating from US trading partners. However, the Supreme Court determined in February that the law did not grant the president the authority to impose such tariffs unilaterally.

This ruling compelled the administration to refund the tariffs collected under the measure. As of July 31, approximately $128.68 billion in potential and certified refunds had been accepted for processing, with around $100 billion having been finalized and transferred to the Treasury Department for disbursement. The refunds were directed towards importers rather than directly to consumers, with some critics arguing that companies may not subsequently pass the money back to households in the form of lower prices.

Following the Supreme Court's decision, the Trump administration has resorted to other legal avenues to impose new tariffs, such as targeting specific sectors and tariffs issued under Section 301 of the Trade Act of 1974.